Evolution tabled a bid of SEK79.93 per share in June to acquire NetEnt, valuing the company at SEK19.6bn. The acquisition supports Evolution’s expansion efforts in the UK.
The offer was conditional on Evolution securing the approval of more than 90% of NetEnt’s shareholders. The acceptance period for shareholders was extended to 20 November. Preliminary estimates indicate that approximately 94% of NetEnt shareholders have accepted the acquisition offer.
Evolution is yet to confirm the unconditional offer, as the final count is still ongoing. The outcome of this count may be published later today.
The acquisition offer was also subject to review and approval from the UK Competition and Markets Authority (CMA), which was secured last week. The CMA’s full reasoning for this decision is yet to be published. In September, the Malta Competition and Consumer Affairs Authority also gave the deal the green light.
With all necessary competition approvals now in place, Evolution expects to begin settlement of the acquisition deal from 1 December, subject to final approval from NetEnt’s shareholders.
