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DraftKings is making a $20 billion offer to acquire U.K. online sports betting company Entain, people familiar with the matter told CNBC’s David Faber on Tuesday.
Sources say the offer includes DraftKings stock as well as cash.
The U.K. gaming company rejected an all-stock offer from MGM Resorts earlier this year worth $11 billion at the time. Entain claimed that the deal markedly undervalued his company.
Entain is part of an international partnership for sports betting called BetMGM in the U.S.
CNBC reached out to Entain for clarification but Entain did not respond.
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