The revised offer has been accepted by shareholders holding a total of 65.9m shares, approximately 94.2% of the total number of shares and votes in Enlabs.
All conditions for the completion of the offer have been satisfied, Entain said, and the operator has therefore declared the offer unconditional.
Payment for the Enlabs shares tendered by 18 March is expected to occur on or around 30 March, 2021.
The offer does not include warrants issued by Enlabs and acquired by employees under the company’s incentive programme.
In a separate offer, Entain has proposed acquiring all interests owned by the warrant holders at a price equal to the see-through value of the warrants on the basis of the offer price.
This separate offer has been accepted by holders of 1.35m out of a total 1.4m warrants allotted and transferred to participants in the incentive programme.
Entain has decided to extend the acceptance period until 1 April, 2021, to give remaining Enlabs shareholders more time to accept the deal.
This means the acquisition is expected to close around 13 April. Entain has said it will not extend the acceptance period further.
The operator now intends to initiate compulsory acquisition proceedings relating to Enlabs shares not tendered in the offer, and to request that the Enlabs board applies for a delisting of the shares from Nasdaq First North Growth Market.
Entain’s offer to acquire Enlabs was first put forward in January, with the operator offering to pay SEK40 per share for the business.
Full details of the offer were published later that month, with Entain explaining that the deal would help Enlabs expand into newer markets such as Ukraine and Belarus. The offer was subsequently increased in March, with Entain increasing the price from SEK40 to SEK53 per share, after which the majority of shareholders in Enlabs backed the offer