Evolution Gaming offers SEK 19.6bn to acquire NetEnt

The offer represents a premium of 43% over NetEnt’s closing price on Tuesday and 72% above NetEnt’s average price per share during the last 30 trading days.

Evolution Gaming reports that shareholders representing just over 21% of all shares and more than 45% of all votes in NetEnt have accepted the offer.

The supplier also stated that shareholders who represent a further 8.48% of all shares and 23.2 of all votes in NetEnt have expressed their intention to accept the SEK 19.6bn offer.

Evolution Gaming believes the merger with NetEnt, which  also owns Red Tiger Gaming after its 2019 acquisition, will accelerate the combined company’s move into the US online gaming market while enhancing its own product offering.

The acceptance period for the offer will be 17 August – 26 October 2020, while the estimated settlement date if the deal is accepted is 2 November 2020.

Gambling Insider has reached out to both Evolution Gaming and NetEnt for comment in regards to the proposed offer.

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Owain Flanders

Journalist

Owain Flanders is a journalist who spent over a year with Gambling Insider, first joining as an Editorial Intern in August 2019 before progressing to Staff Writer from November 2019 to December 2020. During his tenure, he covered a wide range of developments across the global gambling and iGaming sectors, producing original news stories, in-depth features and analytical pieces for the Gambling Insider website and its bi-monthly magazine.

Owain interviewed CEOs, analysts and senior marketing executives on emerging trends, regulatory issues and commercial strategy, bringing authoritative insight to a professional B2B audience.

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