Entain remains a target for high profile investors following the breakup of major shareholder Eminence Capital, as JP Morgan Chase increases its shareholding in the company.
A notification to the London Stock Exchange revealed that JP Morgan Chase has upped its stake in Entain to control 7% of the company’s overall stock, consisting of 5.6% in direct voting rights and 1.4% in financial instruments.
Entain share price peaked at £5.42 [$7.33] on Friday 8 May, the date that JP Morgan Chase exceeded the 5% minimum reporting threshold. Based on this, the firm’s total stake in Entain could have been valued up to £244.9m [$331.4m] on this date.
Entain’s share price has dropped marginally in the following days, however, currently standing at £5.26 per share as of the writing of this article.
