In an official statement released on Sunday, the online gaming company Kindred Group (KINDsdb.ST) confirmed it has received a cash takeover bid from the French group La Française des Jeux (FDJ.PA).
The offer will be made public on Monday before the market opens, as
stated by Kindred in its release, mentioning that FDJ would acquire the entirety of its outstanding share capital.
The Wall Street Journal was the first to report the offer, estimating its value at around $2.5 billion.
FDJ did not immediately respond to a request for comment. In November, FDJ completed the acquisition of Premier Lotteries Ireland, the national lottery operator, for an enterprise value of 350 million euros ($381.40 million).
The New York-based hedge fund, Corvex Management, has been urging Kindred's board since 2022 to hire a financial adviser to explore strategic alternatives, including the potential value that could be achieved through a sale or a business combination.
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