Evolution Gaming offers SEK 19.6bn to acquire NetEnt

By Owain Flanders

Evolution Gaming has offered approximately SEK 19.6bn ($2.1bn) for the takeover of NetEnt, valuing each share in the Swedish slots and online casino supplier at SEK 79.93.

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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