DEAC shareholders approve SBTech-DraftKings merger

| By Daniel O'Boyle
Shareholders of Diamond Eagle Acquisition Corp. have approved the acquisitions of DraftKings and SBTech and the public listing of the new entity.

Shareholders of Diamond Eagle Acquisition Corp. have approved the acquisitions of DraftKings and SBTech and the public listing of the new entity.

At a shareholders’ meeting yesterday (23 April), investors holding 99.7% of Diamond Eagle shares voted in favor of the combination, with less than 0.04% voting against and the remaining shareholders abstaining.

Through the merger, Diamond Eagle will acquire DraftKings for $2.10bn and SBTech for €590m ($634.1m). The new business will then be renamed DraftKings Inc and continue to be listed on the Nasdaq exchange.

The business also voted in favor of moving the state of its incorporation from Delaware to Nevada, with holders of 86.6% of shares backing the move.

Read more on iGB North America.

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