Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

On 24th June 2020, Sweden-based Online-Casino company <a href="https://www.smartkarma.com/entities/netent-ab" target="_blank" data-smartkarma-citation="entities:22440:1" rel="noopener">NetEnt AB (NETB SS)</a> announced they had received a <a href="https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=946102&amp;lang=sv" target="_blank" rel="noopener">Public Takeover Offer</a> from larger rival <a href="https://www.smartkarma.com/entities/evolution-gaming-group-ab" target="_blank" data-smartkarma-citation="entities:22355:1" rel="noopener">Evolution Gaming Group Ab (EVO SS)</a>.The Deal values <a href="https://www.smartkarma.com/entities/netent-ab" target="_blank" data-smartkarma-citation="entities:22440:1" rel="noopener">NetEnt AB (NETB SS)</a> at a Market Cap of approximately US$2bn going by cash-equivalent numbers based on 23rd June closing prices. The Offer Acceptance Period is expected to be from 17th August to 26th October 2020, subject to any extensions. The Offer is conditional on the receipt of regulatory clearances and a minimum acceptance threshold which requires Evolution Gaming to end up owning more than 90% of the shares in NetEnt (on a fully diluted basis). In this insight, we take a look at the details of the Deal to evaluate the fairness of the Terms and evaluate any potential trading opportunities. As always, there is more below the fold.

On 24th June 2020, Sweden-based Online-Casino company NetEnt AB (NETB SS) announced they had received a Public Takeover Offer from larger rival Evolution Gaming Group Ab (EVO SS).The Deal values NetEnt AB (NETB SS) at a Market Cap of approximately US$2bn going by cash-equivalent numbers based on 23rd June closing prices. The Offer Acceptance Period is expected to be from 17th August to 26th October 2020, subject to any extensions. The Offer is conditional on the receipt of regulatory clearances and a minimum acceptance threshold which requires Evolution Gaming to end up owning more than 90% of the shares in NetEnt (on a fully diluted basis). In this insight, we take a look at the details of the Deal to evaluate the fairness of the Terms and evaluate any potential trading opportunities. As always, there is more below the fold.

NetEnt-Evolution: Are People Betting on an Overbid?

Sweden

NetEnt AB develops and markets computer gaming software.  The Company markets browser-based gambling software via an online casino platform to sports books and gaming websites. Net Entertainment provides its services in Europe.

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NetEnt-Evolution: Are People Betting on an Overbid?

On 24th June 2020, Sweden-based Online-Casino company NetEnt AB (NETB SS) announced they had received a Public Takeover Offer from larger rival...

Janaghan Jeyakumar, CFA