Draftkings renounces Etain and confirms that he does not want to continue negotiations after discusing with the company's advice.
In fact, after several meetings with the leadership of Entain, Draftkings decided that will not make a definitive offer, at least right now. Jason Robins, CEO of Draftkings, said that The company was confident in its brand and technologies, but that at the moment this is the decision made by the company.
Draftkings renounces Etain: the negotiation
Draftkings renounces Etain and confirms that he does not want to continue the negotiation, which started the past few months, which has seen the company do Two distinct offers.
The First offer, which had been refused by Entain, was 25 pounds per action And it included both cash and actions. The second, made on September 19, was instead of 28 pounds per action.
However, neither offers was considered definitive, and draftkings that now renounced had initially taken time until October 19th To confirm the last to Entain. This deadline, however, was then moved As we said in this article last week.
In the extension of the timing, Entain said it was needed more clarity on the creation of value for shareholders by Entain, including theirs share of potential synergies, and the on terms of the agreements supply with MGM Resorts e BetMGM.
He asked, moreover, greater clarity on the Governance of the structure choice for the management of the combined entity. But also one Description of how the transaction will exceed the regulatory obstacles and placed by the Antitrustust.
Now Draftkings who for the moment renounces Etain, he said that it may decide to make a further offer, but under certain conditions, as they are according to them change the "circumstances".
Draftkings' statements that renounces Etain
On draftkings that renounces Etain and confirms that he does not want to continue the negotiation Jason Robins, the CEO of Draftkings, he has declared: “Based on our vertically integrated technological stack, of the best technological and product and leading brand skills, we are very confident in our ability to maintain a leadership position and create our long -term growth plans in the rapidly growing North American market. "
The response of the ENTAIN Council
il Entain advice, on the other hand, replied to draftkings that renounces and confirms that he does not want to continue negotiation, saying that they are confident of the future of the company even if he operated independentlynull These are their words: "Intine ha Exceptional track record growth. Has delivered 23 consecutive trimester of online NGR growth with two -digit, which represents a Triennial Cagr of 19% In 2022 ″.
"Not Entain is concentrated in strengthening its market positions, oneSparation in the United States and on the growth in recently regulated markets. E Search also to expand also by offering new entertainment experiences interactive like Esports. Moreover he will use his wide range of products for Improve the acquisition and loyalty of customers, and increase the loyalty of the players. ", then added.
And concluded by stressing that, as a result of these projects, The advice is confident in Entain's ability. Especially in the ability to continue to provide material value to his shareholders over time.