The ZEAL Network, a lottery brokerage operator, has revealed the details of their all-share voluntary takeover offer for Lotto24, their former subsidiary.
Lotto24 shareholders are being offered 1 Zeal share in exchange for 1.604 shares of Lotto 24. They have until April 10 to decide on the offer.
This is pretty much a done deal, as Zeal claims to control approximately 65% of Lotto24 shares already. The German Federal Financial Supervisory Authority has also pre-approved the offer prior to the details being revealed.
Zeal is excited about the deal, as they’ve previously noted they expect it to be of great value to their shareholders. Dr. Helmut Becker, CEO of Zeal, is urging Lotto24 shareholders to accept the offer so they can be welcomed back into the fold, and called it an “exciting journey.”