Entain shares surged on Tuesday afternoon following a report that DraftKings is making a $20bn offer to buy the online sports betting company.
CNBC cited people familiar with the matter as saying that the offer is largely in DraftKings stock, along with cash.
Earlier this year, the Ladbrokes owner rejected an all-share offer from MGM Resorts worth $11bn, arguing that it significantly undervalued the company.
At 1515 BST, Entain shares were up 16% at 2,223p.
