According to Reuters, DraftKings has another month to decide on a formal offer for Entain as the betting firms continue talks on the details of a possible deal.
On Tuesday, October 19, Entain stated it had sought the extension from the UK’s watchdog since the discussions were still ongoing. Talking points with DraftKings also included management composition and antitrust clearances, it added.
DraftKings put forward its US$22.4 billion buyout proposal last month after Entain rejected a bid roughly half the size from partner MGM earlier this year. DraftKings had until October 19 to make a firm offer for Entain or walk away.
According to Reuters, if DraftKings does make a formal offer for Entain by the new November 16 deadline, it could potentially kick off a US$22-billion-plus bid battle for the British gambling firm.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI