DraftKings Inc DKNG is trading lower Tuesday after the company made an offer to acquire Entain for $20 billion.
Entain is a U.K.-based online sports betting company. The company confirmed that it received a stock and cash proposal from DraftKings in a filing with the London Stock Exchange.
Entain rejected an all-stock offer from MGM Resorts International MGM earlier this year worth about $11 billion at the time.
DraftKings is a digital sports entertainment and gaming company that went public via SPAC last year.
DKNG Price Action: DraftKings has traded as high as $74.38 and as low as $34.90 over a 52-week period.
The stock was down 8.05% at $52.42 at time of publication.
Photo: World Poker Tour from Flickr.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
