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Keywords Studios PLC on Monday said it would be ‘minded to recommend’ a possible offer from EQT Group, following a series of bids from the private equity firm. The AIM-listed provider of technical and creative services for video game production said the latest cash approach of 2,550p per share is a ‘significant increase from the initial proposal’. It values all of Dublin-based Keywords at around £2.03 billion. The proposed bid price is a chunky 73% premium to the firm’s closing price of 1,470p on Friday. Keywords said the latest approach follows ‘four previous unsolicited proposals from EQT in recent months’. Keywords shares jumped 67% to 2,450p in early trade in London on Monday morning. The firm added: ‘The board remains confident in the company’s growth strategy of building the only truly global platform providing solutions to the video games and entertainment industries, both organically and through acquisitions, and EQT is supportive of this strategy.’ Should a firm offer be made, Keywords would give it its backing, for now, however, it advised shareholders to ‘take no action’. EQT has until the close of play on June 15 to announce whether it plans to make a firm bid. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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