DraftKings Submits Superior Proposal To Acquire PointsBet's US Business In All-Cash Transaction With Purchase Price Of $195M
Portfolio Pulse from Benzinga Newsdesk
DraftKings has submitted a proposal to acquire PointsBet's US business for $195 million in an all-cash transaction, representing a 30% premium to PointsBet's existing agreement. The acquisition is expected to increase DraftKings' Adjusted EBITDA potential in 2025 and beyond.
June 16, 2023 | 10:36 am
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DraftKings' proposal to acquire PointsBet's US business for $195 million is expected to increase the company's Adjusted EBITDA potential in 2025 and beyond.
The acquisition of PointsBet's US business will expand DraftKings' market presence and increase its Adjusted EBITDA potential. The 30% premium offered indicates DraftKings' confidence in the value of the acquisition, which is likely to have a positive impact on the company's stock price in the short term.
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