MGM Resorts’ acquisition of LeoVegas has moved one step closer to completion after receiving all relevant approvals.
The US company commenced a public tender offer to acquire all LeoVegas shares in May for SEK 61 ($5.73) per share. However, success of MGM Resorts’ bid was subject to certain conditions.
These included the receipt of “regulatory, governmental or similar clearances, approvals and decisions,” a hurdle which the company has now cleared.
Nevertheless, other conditions specified in MGM Resorts’ so-called ‘Offer Document’ still apply. In total, there are seven conditions necessary for completion.