The news that Evolution is going to buy out NetEnt at the end of June shocked the industry. However, even after receiving support from NetEnt shareholders, the deal could not go through until it was approved by the UK Competition and Markets Authority (CMA).
On November 16, the last day of the management’s announced deadline for considering their case, Evolution announced that their offer to buy back NetEnt shares had been approved. This means that Evolution will soon become even more influential.
Evolution will buy back 100% of NetEnt shares. But the owners of the securities will be paid not in cash, but in Evolution shares. The exchange rate will be 0.1306 Evolution shares for each NetEnt share.