DraftKings Inc. (NasdaqGS:DKNG) made an offer to acquire Entain Plc (LSE:ENT) for £14.6 billion on September 19, 2021. Under the terms, offer price is £25 per share. The consideration is comprised of a combination of DraftKings Inc., shares and cash. The board has rejected the £25 per share offer. DraftKings Inc. revised the offer price to £28 per share, consisting of £6.3 in cash and the balance payable in new DraftKings Inc., Class A common shares. DraftKings Inc. will now acquire Entain Plc for £16.4 billion. Shareholders are urged to take no action at this time. DraftKings Inc., must by not later than October 19, 2021 either announce a firm intention to make an offer for Entain Plc or announce that it does not intend to make an offer. As on October 19, 2021, DraftKings must announce a firm intention to make an offer for Entain or to announce that it does not intend to make such an offer on November 16, 2021. This deadline may be further extended with the consent of the Panel on Takeovers and Mergers, at Entain's request. Gavin Deane, Mathew Mathew and Charles Wilkinson of Deutsche Bank AG, London Branch and Laurence Hopkins, Tom Perry and Richard Brown of Morgan Stanley & Co. International plc acted as financial advisors to Entain Plc.

DraftKings Inc. (NasdaqGS:DKNG) cancelled the acquisition of Entain Plc (LSE:ENT) on October 26, 2021. DraftKings confirms that, following further analysis and discussions with the Entain board of directors, it will not make a firm offer for Entain. John Salter, Colin Neville, Jason Schretter, Brett Varsov and Garrett Gomes of Raine Advisors Limited and Michael Kamras, Joe Hannon and Ben Deary of Credit Suisse Group AG (SWX:CSGN) acted as the financial advisors to DraftKings. Mehdi Ansari, Jeremy Kutner, Scott D. Miller, Ben Perry and Juan Rodriguez of Sullivan & Cromwell LLP acted as legal advisors to DraftKings.