Entain shares slide after deal to buy Poland’s STS Holdings

This post was originally published on this site

https://i-invdn-com.investing.com/trkd-images/LYNXMPEJ5D08T_L.jpg

Entain shares fell 10% to their lowest since March 29, in their biggest daily decline in four months.

After the European market close on Tuesday, the sports-betting and gaming company said it will pay 24.8 Polish zlotys ($5.97) for each STS shares in a 750 million pounds ($946 million) deal, which will further its footprint in Europe.

STS shares surged to December 2021 high, last up 12.3%.