LeoVegas soars 40% on MGM Resorts takeover offer

Kindred

02/05/2022 08:41

** Shares in LeoVegas  LEOV.ST  surge 40%, to their highest
in over 3-1/2 years, after the U.S. casino operator MGM Resorts
International  MGM.N  offered to buy the company  urn:newsml:reuters.com:*:nL3N2WU0IF
    ** The Swedish online gaming company received a bid from MGM
Resorts for about $607 mln, which its board has recommended
shareholders to accept  urn:newsml:reuters.com:*:nFWN2WS095
    ** MGM offered 61 crowns ($6.20) in cash per share, which
represents a 44.2% premium to LeoVegas' last closing price of
42.32 crowns
    ** Shares in LeoVegas are on track for their best day ever
    ** Its peer Kindred  KINDsdb.ST  is up over 5%
    

 (Reporting by Marie Mannes)
 ((Marie.mannes@thomsonreuters.com))