DraftKings’ Deadline for Entain Deal Delayed as Talks Continue

The deadline for DraftKings Inc. to offer final terms for its $22.4 billion bid for British betting giant Entain Plc was extended until next month as the parties continue to work toward an agreement.

The U.S. company has until Nov. 16 to either commit to an offer or back out, a delay from the original Oct. 19 deadline, Entain said in a statement Tuesday. Entain, the parent of Ladbrokes and other betting businesses, disclosed the negotiations last month, which triggered a period under U.K. takeover rules in which DraftKings had to announce its firm intent to make a deal or ...