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Media Man Centrebet Sportingbet Gaming
Centrebet International's UK suitor, Sportingbet, has approved its proposed takeover.
Internet gaming and wagering firm Centrebet agreed in May to a $183 million takeover offer from London-listed online gaming company Sportingbet.
Under the terms of the deal, Centrebet shareholders and performance-right holders will receive $2 per Centrebet share.
The proposed acquisition, and associated capital raising, was subject to Sportingbet obtaining approval from its shareholders, which had now been given.
The deal is to be funded 50:50 by a share issue and sale of bonds.
Centrebet said in a statement today Sportingbet expected to receive the funds by June 21, at which time the capital raising condition would be satisfied.
In early trade, shares in Centrebet were steady at $1.98.
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