Fantasy sports and gambling firm had made indicative offer of £16.2bn in September but decided not to proceed
A $22.4bn (£16.2bn) takeover of Entain, the owner of Ladbrokes, by the US fantasy sports and gambling company DraftKings will not go ahead, after the prospective buyer’s interest in a deal cooled.
In a statement to the stock market, Entain said DraftKings had decided not to make a firm offer, more than a month after first declaring its interest in a takeover. City takeover rules mean that the American firm is not permitted to return with a new offer for another six months.
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