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MGM Resorts drops plans to acquire Entain after $11bn offer is rejected

(Photo by Entain)

US gaming operator MGM Resorts International has announced it will not make a firm offer to acquire Entain, two weeks after its proposed $11bn (£8bn) takeover offer was rejected for “significantly undervaluing” the company.

Shares in global sports betting and gaming group Entain fell as much as 20 per cent following news of the announcement.

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