{"id":416194,"date":"2021-01-18T19:34:30","date_gmt":"2021-01-19T00:34:30","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=416194"},"modified":"2021-01-18T19:34:30","modified_gmt":"2021-01-19T00:34:30","slug":"alta-fox-capital-and-other-enlabs-shareholders-representing-more-than-10-shares-outstanding-rejects-bid-from-entain","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/alta-fox-capital-and-other-enlabs-shareholders-representing-more-than-10-shares-outstanding-rejects-bid-from-entain\/","title":{"rendered":"Alta Fox Capital And Other Enlabs Shareholders Representing More Than 10% Shares Outstanding Rejects Bid From Entain"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">STOCKHOLM<\/span>, <span class=\"xn-chron\">Jan. 18, 2021<\/span> \/PRNewswire\/ &#8212;<\/p>\n<p>Fellow Shareholders of Enlabs AB,<\/p>\n<p>Alta Fox Capital Management, LLC (&#8220;<span class=\"xn-person\">Alta Fox<\/span>&#8220;) is one of the largest shareholders of Enlabs AB (NLAB.ST) and currently owns 2,332,625 shares, representing 3.34% of total shares outstanding. <span class=\"xn-person\">Alta Fox<\/span> does not plan to tender any shares at Entain&#8217;s (LSE: ENT.L) current offer price of <span class=\"xn-money\">40 SEK<\/span> per each Enlabs share.<\/p>\n<div id=\"divReleaseHighlightc4dc\">\n        <span class=\"xn-person\">Alta Fox<\/span> and other Enlabs shareholders owning &gt;10% of outstanding shares reject Entain&#8217;s low bid for the company.<\/div>\n<p>This offer materially undervalues the company, represents a negligible premium of 1.1% to the pre-offer trading price, and has unusual circumstances that make us question why Enlabs&#8217; Chairman, <span class=\"xn-person\">Niklas Braathen<\/span>, accepted such an inadequate offer. The fact that Entain will compensate Braathen as a senior executive post-deal and that the CEO of Entain just announced his departure is highly unusual. It leads us to conclude that while this is a good deal for Entain, it is a bad deal for NLAB minority shareholders. <span class=\"xn-person\">Alta Fox<\/span> has retained legal counsel to protect our interests in this matter and has spoken with other large shareholders, a portion of which have signed in support of this letter and represent over 10% of total shares outstanding. <\/p>\n<p>If Entain wants to acquire NLAB, a highly accretive and strategic asset, Entain must compensate NLAB shareholders for its excellent growth prospects as a standalone entity. <span class=\"xn-person\">Alta Fox<\/span> believes the minimum fair price that would compensate shareholders is <span class=\"xn-money\">55 SEK<\/span> per each Enlabs share. For any offer less than this price, we would prefer NLAB to remain a standalone entity. <span class=\"xn-person\">Alta Fox<\/span> confidently believes we have the support to block a squeeze-out of minority shareholders, legal counsel to ensure their fair treatment under Swedish law (<span class=\"xn-person\">Alta Fox<\/span> has retained Roschier Advokatbyr\u00e5), and the determination to obtain a fair price that is reflective of Enlabs&#8217; standalone growth prospects. <\/p>\n<p>Additional information is available at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3039621-1&amp;h=1589570031&amp;u=http%3A%2F%2Fwww.altafoxcapital.com%2Fnlab&amp;a=www.altafoxcapital.com%2Fnlab\" rel=\"nofollow noopener noreferrer\">www.altafoxcapital.com\/nlab<\/a>\u00a0and interested parties can reach us at <a target=\"_blank\" href=\"mailto:NLABfairprice@altafoxcapital.com\" rel=\"nofollow noopener noreferrer\">NLABfairprice@altafoxcapital.com<\/a>. <\/p>\n<p>Sincerely,<\/p>\n<p>\/s\/ <span class=\"xn-person\">Connor Haley<\/span><br \/>Managing Partner\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <br \/>Alta Fox Capital Management LLC\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/p>\n<p>\n        <b><br \/>\n          <u>Signatures of Shareholders in Opposition to Current Deal Price<\/u><br \/>\n        <\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbts prnrbrs prnvab prnsbbs prnpl6 prnsbls prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Name<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Organization<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Shares Beneficially Owned<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>% of Company<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Connor Haley<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Alta Fox Capital<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,332,625<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.34%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Hans Isoz<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Private Investor<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,802,000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.58%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Collin McBirney<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Topline Capital<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,709,300<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.44%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Jimmy Jonsson<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Private Investor<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,197,113<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.71%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ludwig Pettersson<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Private Investor<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">439,472<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.63%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>10.70%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\/s\/ <span class=\"xn-person\">Hans Isoz<\/span>, Private Investor <\/p>\n<p>\/s\/ <span class=\"xn-person\">Collin McBirney<\/span>, Topline Capital<\/p>\n<p>\/s\/ <span class=\"xn-person\">Jimmy Jonsson<\/span>, Private Investor<\/p>\n<p>\/s\/ <span class=\"xn-person\">Ludwig Pettersson<\/span>, Private Investor<\/p>\n<p>\n        <b><br \/>\n          <u>Disclaimer<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>Alta Fox Capital Management, LLC (&#8220;<span class=\"xn-person\">Alta Fox<\/span>&#8220;) is an investment adviser to funds that are in the business of buying and selling securities and other financial instruments. This information is provided for informational purposes only and does not constitute investment advice or an offer or solicitation to buy or sell an interest in a private fund or any other security. An offer or solicitation of an investment in a private fund will only be made to accredited investors pursuant to a private placement memorandum and associated documents.<\/p>\n<p>\n        <span class=\"xn-person\">Alta Fox<\/span> may change its views about or its investment positions in any of the securities mentioned in this document at any time, for any reason or no reason. <span class=\"xn-person\">Alta Fox<\/span> may buy, sell, or otherwise change the form or substance of any of its investments. <span class=\"xn-person\">Alta Fox<\/span> disclaims any obligation to notify the market of any such changes.<\/p>\n<p>\n        <span class=\"xn-person\">Alta Fox<\/span> has interacted with the other firms listed as signed supporters of this view. However, their share ownership is self-reported and not independently verified by <span class=\"xn-person\">Alta Fox<\/span>.\u00a0 Moreover, these individuals could change their views at any time, and this does not represent any binding agreement between parties.<\/p>\n<p>Contact: <br \/><span class=\"xn-person\">Nicole Lacues<\/span><br \/><a target=\"_blank\" href=\"mailto:nicole@altafoxcapital.com\" rel=\"nofollow noopener noreferrer\">nicole@altafoxcapital.com<\/a><\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA51166&amp;sd=2021-01-18\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/alta-fox-capital-and-other-enlabs-shareholders-representing-more-than-10-shares-outstanding-rejects-bid-from-entain-301209850.html\">http:\/\/www.prnewswire.com\/news-releases\/alta-fox-capital-and-other-enlabs-shareholders-representing-more-than-10-shares-outstanding-rejects-bid-from-entain-301209850.html<\/a><\/p>\n<p>SOURCE  Alta Fox Capital Management, LLC<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DA51166&amp;Transmission_Id=202101180200PR_NEWS_USPR_____DA51166&amp;DateId=20210118\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire STOCKHOLM, Jan. 18, 2021 \/PRNewswire\/ &#8212; Fellow Shareholders of Enlabs AB, Alta Fox Capital Management, LLC (&#8220;Alta Fox&#8220;) is one of the largest shareholders of Enlabs AB (NLAB.ST) and currently owns 2,332,625 shares, representing 3.34% of total shares outstanding. Alta Fox does not plan to tender any shares at Entain&#8217;s (LSE: ENT.L) current offer price of 40 SEK per each Enlabs share. Alta Fox and other Enlabs shareholders owning &gt;10% of outstanding shares reject Entain&#8217;s low bid for the company. This offer materially undervalues the company, represents a negligible premium of 1.1% to the pre-offer trading price, and has unusual circumstances that make us question why Enlabs&#8217; Chairman, Niklas Braathen, accepted such an inadequate offer. The fact that &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/alta-fox-capital-and-other-enlabs-shareholders-representing-more-than-10-shares-outstanding-rejects-bid-from-entain\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Alta Fox Capital And Other Enlabs Shareholders Representing More Than 10% Shares Outstanding Rejects Bid From Entain&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-416194","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Alta Fox Capital And Other Enlabs Shareholders Representing More Than 10% Shares Outstanding Rejects Bid From Entain - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/alta-fox-capital-and-other-enlabs-shareholders-representing-more-than-10-shares-outstanding-rejects-bid-from-entain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alta Fox Capital And Other Enlabs Shareholders Representing More Than 10% Shares Outstanding Rejects Bid From Entain - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire STOCKHOLM, Jan. 18, 2021 \/PRNewswire\/ &#8212; Fellow Shareholders of Enlabs AB, Alta Fox Capital Management, LLC (&#8220;Alta Fox&#8220;) is one of the largest shareholders of Enlabs AB (NLAB.ST) and currently owns 2,332,625 shares, representing 3.34% of total shares outstanding. Alta Fox does not plan to tender any shares at Entain&#8217;s (LSE: ENT.L) current offer price of 40 SEK per each Enlabs share. Alta Fox and other Enlabs shareholders owning &gt;10% of outstanding shares reject Entain&#8217;s low bid for the company. This offer materially undervalues the company, represents a negligible premium of 1.1% to the pre-offer trading price, and has unusual circumstances that make us question why Enlabs&#8217; Chairman, Niklas Braathen, accepted such an inadequate offer. The fact that &hellip; Continue reading &quot;Alta Fox Capital And Other Enlabs Shareholders Representing More Than 10% Shares Outstanding Rejects Bid From Entain&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/alta-fox-capital-and-other-enlabs-shareholders-representing-more-than-10-shares-outstanding-rejects-bid-from-entain\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-19T00:34:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA51166&amp;sd=2021-01-18\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/alta-fox-capital-and-other-enlabs-shareholders-representing-more-than-10-shares-outstanding-rejects-bid-from-entain\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/alta-fox-capital-and-other-enlabs-shareholders-representing-more-than-10-shares-outstanding-rejects-bid-from-entain\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Alta Fox Capital And Other Enlabs Shareholders Representing More Than 10% Shares Outstanding Rejects Bid From Entain\",\"datePublished\":\"2021-01-19T00:34:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/alta-fox-capital-and-other-enlabs-shareholders-representing-more-than-10-shares-outstanding-rejects-bid-from-entain\\\/\"},\"wordCount\":627,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/alta-fox-capital-and-other-enlabs-shareholders-representing-more-than-10-shares-outstanding-rejects-bid-from-entain\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=DA51166&amp;sd=2021-01-18\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/alta-fox-capital-and-other-enlabs-shareholders-representing-more-than-10-shares-outstanding-rejects-bid-from-entain\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/alta-fox-capital-and-other-enlabs-shareholders-representing-more-than-10-shares-outstanding-rejects-bid-from-entain\\\/\",\"name\":\"Alta Fox Capital And Other Enlabs Shareholders Representing More Than 10% Shares Outstanding Rejects Bid From Entain - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/alta-fox-capital-and-other-enlabs-shareholders-representing-more-than-10-shares-outstanding-rejects-bid-from-entain\/","og_locale":"en_US","og_type":"article","og_title":"Alta Fox Capital And Other Enlabs Shareholders Representing More Than 10% Shares Outstanding Rejects Bid From Entain - Market Newsdesk","og_description":"PR Newswire STOCKHOLM, Jan. 18, 2021 \/PRNewswire\/ &#8212; Fellow Shareholders of Enlabs AB, Alta Fox Capital Management, LLC (&#8220;Alta Fox&#8220;) is one of the largest shareholders of Enlabs AB (NLAB.ST) and currently owns 2,332,625 shares, representing 3.34% of total shares outstanding. 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