Stars Group Trades Higher On All-Stock Merger With Flutter Entertainment
The Stars Group shares are trading higher after the company announced an all-stock merger with Flutter Entertainment.
The merger will combine two businesses in the sports betting and gaming sector. On completion of the merger, Flutter shareholders will own approximately 54.64% and The Stars Group shareholders would own approximately 45.36% of the share capital of the combined group.
On a proforma basis, the combined group’s annual revenue would have been £3.8 billion in 2018, making it the largest online betting and gaming operator globally.
Reported by Benzinga