A preliminary inquiry into possible insider trading in LeoVegas’ shares has been begun by the Swedish Economic Crime Authority. The Economic Crime Authority paid an “unannounced visit” to LeoVegas’ offices in Stockholm.
According to the operator, it is supporting authorities in their investigation. According to the statement, all inquiries about the investigation should be referred to the Authority. There has been no notification of any criminal behavior to any LeoVegas employees, management team members, or board members.
MGM Resorts, a land-based operator, made an offer to buy LeoVegas for $607 million last month. MGM will pay SEK61 (£4.90/€5.85/$6.16) per share to acquire LeoVegas’ entire share capital, representing a 44 percent premium over LeoVegas’ closing share price on April 29.
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