The public tender offer for LeoVegas, valued at $604m (£529m/€605m), was submitted in May 2022.
MGM, the company behind the offer, received unanimous approval from the LeoVegas board for their proposal to pay SEK61.00 in cash per share.
Furthermore, MGM obtained all the necessary regulatory and governmental approvals for the acquisition.
As of the latest update, 65.56% of LeoVegas shareholders, equivalent to 63,047,289 shares, have accepted the offer.
MGM has also acquired an additional 30,400,000 LeoVegas shares, bringing their total ownership to 93,447,289 shares or 95.69% of the company.
In the extended acceptance period, which closed on 14 September, 2,320,120 shares were tendered, representing approximately 2.38% of the total shareholding.
Consequently, MGM now controls 95,767,409 shares, amounting to roughly 98.07% of all outstanding shares in LeoVegas.
The settlement process for shares tendered during the extended acceptance period will commence around 22 September.
MGM has confirmed that the acceptance period for the offer will not be extended any further.
In addition, MGM has initiated a compulsory acquisition procedure, under the Swedish Companies Act, to acquire all the remaining shares not tendered in the offer.
On 8 September 2022, LeoVegas’ application for delisting its shares from Nasdaq Stockholm was approved.
The last day of trading for LeoVegas shares at Nasdaq Stockholm will be on 22 September 2022.