M&A

DraftKings Hits Public Market With SPAC Merger

Published: June 22nd, 2020

The daily fantasy and sports betting company has agreed to a merger with special purpose acquisition company Diamond Eagle Acquisition.

Those betting DraftKings was due for the public markets may have just hit pay dirt.

The daily fantasy company and recent entrant in to the sports betting scene has agreed to a merger with special purpose acquisition company Diamond Eagle Acquisition Corp. that will bring the Boston-based company public.

As part of the deal, which will create a $3.3 billion-in-market-cap company, DraftKings will merge with SBTech, an online gaming platform that provides technology to sports books including Churchill Downs, Virgin Bet and Golden Nugget online casinos.

Editor’s note: The original version of this article, including advisers and other details, was published earlier on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.

This Content is Only for The Deal Subscribers

The Deal provides actionable, intraday coverage of mergers, acquisitions and all other changes in corporate control to institutional investors, private equity, hedge funds and the firms that serve them.

If you’re already a subscriber, log in to view this article here.

More From M&A

M&A

Drinks With The Deal: Willkie's Paran Talks Insurance M&A, Changing Cities and Firms

By David Marcus

Published: July 18th, 2024

Willkie's PK Paran discusses moving to New York from London in 2019, changing law firms two years later and insurance industry M&A.

M&A

Drinks With The Deal: Kirkland’s Lee Talks About Webtoon IPO, Changes in Legal Industry

By David Marcus

Published: July 3rd, 2024

Kirkland partner Ed Lee discusses his pride in helping take the media and technology company public and how the legal industry has evolved over his career.

M&A

Cfius Clears Controversial Vista-Czech Group Transaction

By David Hatch

Published: June 28th, 2024

Vista hints at national security conditions in announcement of key approval from Washington that could crater MNC Capital’s rival bid for all of the outdoor sports products and weapons company.

View All From M&A