Deals
FanDuel, DraftKings in Merger Talks Amid Legal Fights
- At their peaks, both companies had valuations over $1 billion
- New York is expected to allow fantasy sports by NFL’s start
DraftKings and FanDuel Said to Be in Merger Talks
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DraftKings Inc. and FanDuel Inc., the two biggest daily fantasy sports companies, are in talks about a merger, according to people familiar with the situation.
Investors in DraftKings and FanDuel, which are privately held, have been pushing for a tie-up for some time, according to the people, who asked not to be identified as the discussions are private. The companies offer nearly identical products and spend a lot of money competing with each other; they also face the same legal challenges that threaten their business across the U.S.