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Sept. 21, 2021, 10:22 a.m. EDT

DraftKings stock drops after CNBC report of $20 billion cash-and-stock buyout bid for U.K.'s Entain

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By Tomi Kilgore

Shares of DraftKings Inc. /zigman2/quotes/213120645/composite DKNG -5.74% dropped 5.8% in morning trading Tuesday, after CNBC reported that the digital sports betting and entertainment company has made a $20 billon bid to buy U.K.-based online sports betting company Entain PLC /zigman2/quotes/216152297/composite GMVHY +0.52% /zigman2/quotes/207493593/delayed UK:ENT +0.09% . Citing people familiar with the matter, CNBC said the bid was largely in DraftKings stock, and included cash. Entain's U.S.-listed shares shot up 14.1%, while the U.K.-listed stock climbed 16.3% into record territory. In January, Entain's stock had tumbled after MGM Resorts International /zigman2/quotes/209932643/composite MGM -0.12% said it did not plan to revise its buyout bid after Entain had rejected a previous $11 billion bid. Entain's U.K.-listed shares have soared 96.5% year to date and DraftKing shares have climbed 15.0%, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.11% has advanced 16.3%.

/zigman2/quotes/213120645/composite
US : U.S.: Nasdaq
$ 46.11
-2.81 -5.74%
Volume: 19.04M
Oct. 22, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$36.72 billion
Rev. per Employee
$236,358
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/zigman2/quotes/216152297/composite
US : U.S.: OTC
$ 29.25
+0.15 +0.52%
Volume: 7,159
Oct. 22, 2021 3:36p
P/E Ratio
92.62
Dividend Yield
N/A
Market Cap
$17.16 billion
Rev. per Employee
$193,749
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/zigman2/quotes/207493593/delayed
UK : U.K.: London
£ 2,125.00
+2.00 +0.09%
Volume: 610,867
Oct. 22, 2021 4:35p
P/E Ratio
90.89
Dividend Yield
N/A
Market Cap
£12.46 billion
Rev. per Employee
£151,088
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/zigman2/quotes/209932643/composite
US : U.S.: NYSE
$ 48.03
-0.06 -0.12%
Volume: 2.96M
Oct. 22, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.02%
Market Cap
$23.14 billion
Rev. per Employee
$122,907
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/zigman2/quotes/210599714/realtime
US : S&P US
4,544.90
-4.88 -0.11%
Volume: 1.82B
Oct. 22, 2021 5:04p
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