Flutter Entertainment, the operator of the Paddy Power Betfair business, has announced that it will finalise its acquisition of and subsequent merger with The Stars Group (TSG) on 5 May 5.
Under a deal announced in October of last year, the mega-merger will see Flutter purchase all of the shares in TSG and join together with the operator to create one of the largest operators in the industry, with annual revenue of £3.8 billion (US$4.7 billion).
Last week, shareholders holding 99.2% of Flutter’s share capital voted in favour of the merger, while TSG shareholders also overwhelmingly backed the deal, with approximately 99.99% of votes cast in support of the proposal.
Flutter confirmed it has also now secured all of the relevant regulatory approvals in order for the deal to go through, with the acquisition set to complete by 8am BST on 5 May 5.
“I am delighted to confirm that our transformational combination with The Stars Group will complete on 5 May; the enlarged group brings together exceptional brands, products and businesses, a hugely talented and experienced team, and a diverse global presence,” Flutter group chief executive Peter Jackson said.
“The strength of our combined portfolio of assets means that we approach the future with confidence in these uncertain times.”
Full Content: iGaming Business
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DirecTV and Disney Resolve Dispute, Restore Programming for Subscribers
Sep 15, 2024 by
CPI
UK Antitrust Authority Raises Concerns Over Vodafone-Three Merger
Sep 15, 2024 by
CPI
Brazilian Supreme Court Lifts Freeze on Starlink Accounts, Transfers $3.3 Million to National Treasury
Sep 15, 2024 by
CPI
Steptoe Expands Antitrust Practice with Key London Hire
Sep 15, 2024 by
CPI
Instant Ad Auctions at the Heart of Google’s Federal Monopoly Case
Sep 15, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández