MGM Seeks $11 Billion Takeover of Partner Entain

British sports betting company Entain (LSE: ENT) said Monday that it has received several takeover offers from casino operator MGM Resorts International (NYSE: MGM). Entain -- formerly named GVC Holdings -- and MGM are joint venture partners in the BetMGM sports betting and online gambling app. 

Entain said the latest offer from MGM was for about $11 billion, a 22% premium to Entain's Dec. 31, 2020 closing share price. Entain rebuked the offer, saying it "significantly undervalues the company and its prospects."

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Source Fool.com