Entain PLC (LON:ENT), the owner of betting brand Ladbrokes, said it has received the necessary regulatory approvals for its £316mln takeover offer for Baltics gaming group Enlabs.
The FTSE 100 firm raised its offer for Enlabs earlier this month to around 450p per share from 350p previously after US-based investor Alta Fox and other shareholders objected to the first offer saying it was ‘considerably too low’.
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Following the increased offer, Entain said on March 1 it had received acceptances for the offer amounting to 51% of Enlabs shares, adding on Tuesday that a condition for completion of the offer has been fulfilled following the regulatory approvals.
Announcing its bid in January, Entain said the acquisition of Enlabs “is perfectly aligned with our strategy of expanding across new regulated international markets”.
Shares in Entain rose 0.5% to 1,424p in mid-morning trading on Tuesday.