Kindred rises as shareholder tells board to consider potential sale

Kindred

04/05/2022 09:28

** Shares in Kindred  KINDsdb.ST  are up 6% after a large
shareholder urged the board of the Swedish online gaming group
to consider sale of the company or a business combination
    ** Corvex Management says in a statement the Kindred board
should retain financial advisor to evaluate strategic
alternatives  urn:newsml:reuters.com:*:nBw1btFq6a
    ** The New York based hedge fund, which owns more than 10%
of shares in Kindred, says these alternatives should include a
potential sale or business combination in order to archive
further value
    ** Pareto Securities analyst George Attling says the news
does not come as a surprise 
    ** "We've seen ownership in Swedish iGaming companies
shifting from Swedish Institutions to foreign investor over the
last couple of years, and this just adds to that list," Attling
says
    ** ABG Sundal Collier analyst Oscar Rönnkvist says Kindred
should be an attractive asset for U.S. companies such as
Fanatics and other potential buyers, but adds there are also
other strategic decisions the group could make
    ** Swedish peer LeoVegas  LEOV.ST  soared 40% on Monday
after U.S. casino operator MGM Resorts International  MGM.N 
offered to buy the company, also boosting Kindred shares
 urn:newsml:reuters.com:*:nL5N2WU154
    ** Kindred is among top movers on the pan-European STOXX 600
index  .STOXX 

 (Reporting by Marie Mannes)
 ((Marie.mannes@thomsonreuters.com))