On December 3, 2020, Flutter, a global sports betting and gaming group, announced that it has entered into a conditional agreement to acquire the entire 37.2 percent of the issued and outstanding units of FanDuel Group Parent LLC held by Fastball Holdings LLC. Wilson Sonsini Goodrich & Rosati is advising Fastball in the transaction.

According to Flutter’s announcement, the 37.2 percent interest is being acquired for $4.175 billion. Flutter plans to pay for the stake through a combination of $2.09 billion in cash and the issue of approximately 11.7 million new Flutter ordinary shares directly to Fastball. The transaction is conditional on Flutter shareholder approval.

The Wilson Sonsini team advising Fastball in the transaction includes partners Todd Cleary, Ethan Lutske, Sriram Krishnamurthy, and Jonathan Zhu; Of Counsel Derek Wallace; and associate Brendan Mahan.

Please see Flutter’s announcement for more information.