Entain PLC (LSE:ENT) on January 4, 2021 confirmed a press report that it has received a possible takeover offer from its partner, MGM Resorts International (NYSE:MGM). If a deal is concluded, Entain would become the second UK gaming operator, after William Hill PLC, to be taken over by its US partner. The Wall Street Journal on January 3, 2020, citing sources familiar with the matter, had said MGM was looking to buy Entain which had a market capitalisation of about GBP 6.63 billion last week.

The WSJ said the value of the bid was above GBP 12.85 per share. Under the terms of its most recent proposal, Entain shareholders would own just shy of 42% of the enlarged company. Entain said MGM has indicated that a limited partial cash alternative may be offered as well.

Entain, however, said it told MGM Resorts that the bid "significantly undervalues the company and its prospects".