Day: 7 April 2021

Flutter Entertainment Faces Arbitration Claim Action over Fox’s Rights to Purchase 18.5% in FanDuel

Wed 7 Apr 2021 9.20 Daniel Williams
Flutter Entertainment Faces Arbitration Claim Action over Fox’s Rights to Purchase 18.5% in FanDuel

The Murdoch-owned media corporation Fox has turned to court, filing an arbitration claim against the gambling giant Flutter Entertainment. The legal dispute with one of the biggest gambling operators on a global scale is over the value of its stake in FanDuel, a quickly-growing sports betting platform. Fox is provided with the opportunity to purchase an 18.5% stake in July this year and, according to the company, it should be able to do so at the same price [aid by Flutter Entertainment in December 2020. The deal valued FanDuel at…

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James Packer Could Consider Making Independent Assessment of Proposed Takeover Deal for Crown Resorts

Wed 7 Apr 2021 6.00 Olivia Cole
James Packer Could Consider Making Independent Assessment of Proposed Takeover Deal for Crown Resorts

The key stakeholder in Crown Resorts – James Packer – has indicated that he could consider the sale of his 37% stake in the Australian gambling giant after the takeover offer made by the private equity firm Blackstone. The billionaire has made a U-turn in his previous position that he would leave any takeover deal in the hands of Crown Resorts’ board. Now, he said that he will make an independent assessment of the advantages of any proposal for an acquisition deal. In a statement issued on April 6th, the…

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