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MGM Resorts offer to acquire LeoVegas accepted by shareholders

15 Sep 2022

(PRESS RELEASE) -- On 31 August, MGM announced that the offer had been accepted by shareholders with a total of 63,047,289 shares in LeoVegas, corresponding to approximately 64.56% of the outstanding shares in LeoVegas, and that MGM, since the time of announcement of the Offer, had also acquired 30,400,000 LeoVegas shares at prices not exceeding the price in the Offer. As a result, MGM controlled in total 93,447,289 shares in LeoVegas, corresponding to approximately 95.69% of the outstanding shares in LeoVegas, and declared the Offer unconditional and extended the acceptance period.

During the extended acceptance period which expired on 14 September, the offer has been accepted by shareholders with a total of 2,320,120 shares in LeoVegas, corresponding to approximately 2.38% of the outstanding shares in LeoVegas. After the end of the extended acceptance period, MGM thus controls in total 95,767,409 shares in LeoVegas, corresponding to approximately 98.07% of the outstanding shares in LeoVegas.

Settlement for shares tendered in the Offer during the extended acceptance period will begin around 22 September. MGM will not further extend the acceptance period for the Offer.

MGM has initiated a compulsory acquisition procedure in accordance with the Swedish Companies Act to acquire all shares not tendered in the Offer. LeoVegas’ application for delisting of the shares from Nasdaq Stockholm was approved on 8 September. The last day of trading in LeoVegas’ shares at Nasdaq Stockholm will be 22 September.
 
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