BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Flutter Entertainment Plc has entered into a conditional agreement to acquire the entire 37.2% interest in FanDuel which is currently held by Fastball for $4.175 billion. Flutter expects the consideration to be satisfied through a combination of $2.088 billion in cash and the issue of approximately 11.7 million new Flutter ordinary shares directly to Fastball.
Flutter said the cash element will be funded through cash on balance sheet and an equity placing to raise approximately 1.1 billion pounds. The deal is conditional on Flutter shareholder approval.
Copyright RTT News/dpa-AFX