MGM Resorts Makes New Offer to Buy U.K.’s Entain: Dow Jones
(Bloomberg) -- MGM Resorts International made a renewed offer to buy U.K. gaming company Entain PLC after an earlier all-cash $10 billion overture was rejected, Dow Jones reported, citing people familiar with the matter.
The U.S. casino operator’s offer for the owner of the British gambling brand Ladbrokes has a substantial stock component and is above the 12.85 pounds-a-share offer in MGM’s previous offer late last year. Entain closed Thursday at about 11.33 pounds.
The new bid comes with financial backing from the MGM’s largest shareholder, IAC/InterActiveCorp., Dow Jones said.
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