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Ladbrokes owner Entain confirms MGM approach on possible offer

Jan 4 (Reuters) - Ladbrokes owner Entain said on Monday it received an $11 billion takeover proposal from U.S. casino operator MGM Resorts, but said the offer significantly undervalued the company.

The proposed offer of 1,383 pence per Entain share implies a total deal value of 8.09 billion pounds ($11.08 billion), according to a Reuters calculation. ($1 = 0.7301 pounds) (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Ramakrishnan M.)

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