Entain has revealed its offer to acquire STS for £750m has been accepted by shareholders.
The group announced that 99.3 per cent of shareholders, corresponding to 155,591,656 shares, voted for the move.
“The settlement in respect of those shares tendered during the offer and anticipated completion of the offer is expected to be on 24 August 2023,” Entain said in a statement.
Entain CEO Jette Nygaard-Anderson said the transaction is “perfectly aligned” with Entain CEE’s strategy “and our wider M&A strategy” of “acquiring high quality businesses with leading positions in attractive, growing and regulated markets.”
Other recent M&A activity from Entain includes an £81m deal to acquire Angstrom Sports, while it has elsewhere put £585m in reserve to settle a bribery investigation into the Turkish business it sold.
