Online gambling company Kindred Group confirms takeover bid from France’s FDJ
Kindred Group confirmed on Sunday that La Française des Jeux SA has made a takeover bid that would create one of Europe’s largest online gambling companies.
In a statement Sunday, Kindred said its board has been evaluating options to “deliver shareholder value” starting in April 2023 and a takeover bid is expected to be announced before markets open on Monday.
On Sunday morning, the Wall Street Journal reported that FDJ was in talks to acquire Kindred for about $2.5 billion.
Paris-based FDJ FDJ;
It offers online sports betting and gambling and operates France’s national lottery. In November it acquired Premier Lotteries Ireland, which operates Ireland’s national lottery.
Kindred SE:KIND,
Headquartered in Malta and traded on the Stockholm Exchange, the company offers online gambling under more than nine brands in Europe, North America and Australia. Last November, Kindred announced it would exit the North American market by mid-2024 to focus on its core European markets.
