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DraftKings Wants to Buy Entain in $22 Billion Deal. It Faces an MGM Problem.

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U.K. sports betting and gambling giant Entain confirmed late Tuesday it has received a takeover approach from DraftKings, valuing the company at $22 billion.

Entain (ticker: ENT.London), whose stock surged for a second consecutive day, hitting all-time highs on Wednesday, revealed that it had rejected an earlier proposal of £25 per share from the Boston-based company but was now considering a second proposal worth £28 per share, £6.30 of which would be in cash.

In…


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