Keywords Studios green lights £2 billion EQT Group buyout offer | Pocket

Keywords Studios is in advanced talks with equity investor EQT Group for a potential £2 billion cash acquisition at 2,550 pence per share.

EQT’s latest offer comes after four previously rejected proposals and is significantly higher. The Board remains confident in Keywords Studios’ growth strategy, which EQT supports.

Shareholders registered by May 24, 2024, will also receive a final 2023 dividend of 1.76 pence per share, payable on June 28, 2024. If approved, the offer would put Keywords’ value at over £2 billion. The Swedish investment company has until Saturday, June 15th 2024 to seal the deal or walk away.

Not a done deal just yet

This isn’t a done deal yet, but considering EQT’s persistent efforts and Keywords Studios’ public disclosure of the terms, the completion of the deal for this amount seems likely. Essentially, the message is, “If you meet this price, the company is yours.”

“The Possible Offer is subject to satisfaction or waiver (by EQT) of customary pre-conditions, including completion of confirmatory due diligence by EQT,” said Keywords Studios in response to press speculations that have seen their share price on the increase.

“The Board will issue a further statement as and when appropriate. In the meantime, Keywords Studios shareholders are strongly advised to take no action.”

Founded in 1998 to assist software developers with translation, Keywords Studios shifted to the gaming industry in the early 2000s. It has since capitalized on the gaming sector’s massive growth and went public in 2014.