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Kindred Group receives acquisition offer from FDJ

EditorNatashya Angelica
Published 22/01/2024, 04:08
© Reuters.

SLIEMA, Malta - Kindred Group plc, a prominent online gambling operator, confirmed today that it has received a takeover offer from La Française des Jeux SA (FDJ), a French gaming company. The announcement follows recent media speculation about a potential public offer as part of Kindred's strategic review, which was initiated by the company's Board of Directors in April 2023.

The strategic review process has included exploring various options to enhance shareholder value, including the possibility of a merger or sale. Kindred has now verified that FDJ has proposed to acquire all outstanding shares of the company. The official public offer from FDJ is expected to be disclosed before the market opens on Monday.

This development is a significant move for FDJ, which is seeking to expand its portfolio in the online gambling sector. The potential acquisition of Kindred would mark a notable consolidation in the industry, bringing together two established players in the European market.

Kindred's confirmation of the offer is in compliance with the EU Market Abuse Regulation, which requires the disclosure of such information. The company has made this information public to ensure transparency for its shareholders and the market.

The outcome of this offer and its acceptance by Kindred's shareholders remain to be seen, as the company's Board, along with its advisers, continues to evaluate the best course of action to maximize shareholder value.

The information in this article is based on a press release statement from Kindred Group.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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