FDJ has made a €2.49bn offer to acquire Kindred Group, valuing the company at SEK27.96bn.
The offer includes SEK130 in cash for each Swedish Depository Receipt (SDR) in Kindred, representing a 24.4% premium over the closing price on 19 January.
The acceptance period for the offer will begin on 20 February and run through to 19 November.
The boards of both Kindred and FDJ have recommended shareholders accept the offer, with FDJ aiming to create a “European gaming champion” through the acquisition.
Analysts believe the deal represents a significant strategic shift for FDJ, providing access to new markets and products, particularly in the online gaming space.
Both FDJ and Kindred have reported positive financial results for 2023, with FDJ’s revenue increasing by 6.5% to €2.62bn and Kindred reporting a 13.3% rise in revenue to £1.21bn.
