Keywords Studios set to recommend $2.5 billion takeover by EQT (updated)
28/06/2024 07:48
(Rewrites throughout, adds details on price and previous
proposals in paragraphs 2-5)
June 28 (Reuters) - Keywords Studios KWS.L said on
Friday it was ready to agree to a 1.96 billion pound ($2.48
billion) takeover by EQT Group if the European private equity
firm tabled a formal offer at that price despite it being lower
than what it proposed in May.
The Dublin-based video game services firm said EQT on
Thursday proposed to buy the company for 24.50 pounds per share,
a price that the Keywords board could recommend to shareholders,
up from a previous proposal of 24.30 pounds apiece on Wednesday.
But that was still lower than the 25.50 pound proposal first
disclosed in May.
Keywords Studios warned on Friday of lower margins in the
first half of the year and said it was grappling with slower
content creation trends that is dampening its growth.
EQT has until July 3 to make a formal offer or walk away.
($1 = 0.7916 pounds)
(Reporting by Aby Jose Koilparambil and Yadarisa Shabong in
Bengaluru; Editing by Rashmi Aich)
((abyjose.koilparambil@thomsonreuters.com; +917483275231;))