Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FDJ makes €2.6bn offer for Kindred Group

(Sharecast News) - French gambling company La Francaise des Jeux on Monday launched a €2.6bn takeover bid for Sweden's Kindred Group. FDJ has tabled 130 Swedish crowns a share offer for Kindred, a premium of 24% to Kindred's January19 closing price, sending shares in the owner of Unibet and 32Red up more than 16%.

Kindred said it had attracted interest from "several parties" since starting a review of strategic alternatives last year. It added that FDJ's offer represented the "most attractive outcome for shareholders", leading its board to unanimously recommend the offer.

"The board believes that the terms of the offer recognise Kindred's long-term growth prospects, taking into account the risks and uncertainties associated with the realisation of those prospects," it added.

FDJ, which offers lottery scratch cards in France and in which the French state holds a stake of 20%, said the takeover would boost earnings and result in an accretion of more than 10% in its dividend per share.

Reporting by Frank Prenesti for Sharecast.com

Share this article

Related Sharecast Articles

Billionaire Issa nearing deal to sell Asda stake to TDR Capital - report
(Sharecast News) - US private equity firm TDR Capital is reportedly closing in on a deal to buy petrol station billionaire Zuber Issa's stake in supermarket chain Asda.
Billionaire Issa nearing deal to sell Asda stake to TDR Capital
(Sharecast News) - Private equity firm TDR Capital is reportedly closing in on a deal to buy petrol station billionaire Zuber Issa's stake in supermarket chain Asda.
DS Smith tumbles as Mondi abandons pursuit
(Sharecast News) - DS Smith tanked on Friday after Mondi said it would not be making an offer for the rival packaging group, clearing the path for a takeover by International Paper.
Eqtec agrees amendment to Verde subscription
(Sharecast News) - Waste-to-energy technology developer Eqtec updated the market on the Verde Corporation subscription on Friday, confirming that an amendment to the subscription letter had been agreed upon with Verde.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.