Kindred Group confirmed Sunday that La Française des Jeux SA has made an acquisition bid, which would create one of Europe’s largest online gambling companies.
In a statement Sunday, Kindred said its board has been evaluating options to “deliver shareholder value” since April 2023, and that the takeover bid is expected to be announced before markets open Monday.
Earlier Sunday, the Wall Street Journal reported FDJ was in talks to buy Kindred for about $ 2.5 billion.
Paris-based FDJ FDJ, +1.48% offers online sports betting and gambling, and operates France’s national lottery. In November, it acquired Premier Lotteries Ireland, which runs Ireland’s national lottery.
Kindred SE:KIND, which is headquartered in Malta and traded on Stockholm’s exchange, offers online gambling over nine brands in Europe, North America and Australia. In November, Kindred announced it would exit the North American market by mid-2024 to focus on its core market in Europe.