London-listed Keywords Studios soars to one-year high on potential takeover
20/05/2024 08:22
** Shares of Keywords Studios Plc KWS.L surge as much as
70% to 2,498p, their highest since May 4, 2023
** Stock is top pct gainer across London
** European private equity group EQT EQTAB.ST is in
advanced talks to buy the Dublin-based video game services
company for 2.2 bln pounds ($2.79 bln), the companies said
** EQT is negotiating over a possible cash offer of 25.50p
per share of London-listed firm, representing a premium of about
73% over Keywords' Friday closing share price of 14.70p
** EQT had previously made four unsolicited proposals for
Keywords, all of which were rejected by the company's board
** Current offer represents a significant increase from the
initial proposal - EQT
** KWS board concludes it "would be minded to recommend" the
proposal to its shareholders
** Under Britain's takeover rules, EQT has until June 15 to
either make a firm offer or walk away
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))