Entain, the owner of Ladbrokes, makes an all-time high offer for DraftKings as M&A fever sweeps the industry.

The gambling industry has been hit by M&A fever after a "audacious" US acquisition attempt for Entain, owner of Ladbrokes, had the City wondering who might be next.
After Entain informed the market that US fantasy sports operator DraftKings had approached it on Sunday with a 2800p-per-share offer, the company's stock reached a new all-time high today. That places Entain's value at roughly £16.4 billion ($22.4 billion), up 46% from the company's undisturbed share price. Entain investors will receive 630p in cash from DraftKings and the remaining amount in shares.

 

[GamblingBoy]

It is the Draftkings that could explain the potency it observed inn Entain before it could make outstanding offers for it. Consequently, it is this outstanding offers that boost the Entail value high in the stock market.