DraftKings tables $22.4bn takeover proposal for Entain

Stock and cash offer propels Entain’s share price to all-time high as MGM wades in to protect joint venture agreement

DraftKings sent shockwaves through the gambling industry on September 21 with a $22.4bn (£16.4bn) takeover offer for FTSE 100 operator Entain. After CNBC broke the news of an initial approach by DraftKings at £25 per share, Entain informed the market of a second increased bid at £28 per share, which caused its shares to leap by more than a…

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