DraftKings plans to offer 28 pounds per share in cash and share after its earlier proposal of 25 pounds a share was rejected by Entain. Entain confirmed DraftKings' takeover proposal that valued it at $22.4 billion.

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As for the suitor, Draftkings, it is just another debt-fuelled American entity, which struggles to make a profit, seeing an opportunity to use cheap borrowing and a favourable tax regime to make a killing.