Enlabs makes SEK150m offer to acquire Global Gaming
Published 22nd September 2020
Under the non-negotiable offer, Global shareholders will have the opportunity to exchange their shares in the Ninja Casino operator for SEK11 in cash, and 0.36 shares in Enlabs. They may also accept a payment comprising a 50% cash consideration and 50% Enlabs shares.
This corresponds to Enlabs’ intended bid that it outlined when it increased its holding in Global to 54.06% in August, triggering the threshold at which it had to make a mandatory takeover offer for the business.
Since then, however, it has increased its stake in the business to 27.3m shares, or a 66.70% holding.
The total value of the offer for the 13.6m shares it does not already own is approximately SEK150m, Enlabs said, valuing Global’s entire issued share capital at SEK450m. A maximum of 4.9m shares in Enlabs may be issued in connection with the offer.
The cash consideration represents a premium of approximately 15% on Global’s closing share price on 26 August, the last day of trading before Enlabs triggered the offer threshold. The bid also represents a premium of 1% on Global’s closing price on 21 September, the day before the offer was made.