Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Apple App Store Injunction Largely Upheld as Appeals Court Rules on Epic Games Case 
ANZ Faces Legal Battle as Former CEO Shayne Elliott Sues Over A$13.5 Million Bonus Dispute 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Kindred Group, the leading online gambling company, confirmed on Sunday, Jan. 21, that it has received an acquisition bid from France's La Française des Jeux (FDJ), the operator of France's national lottery games. The negotiation is reportedly in the final stage, and it will see the latter paying $2.5 billion to buy the gaming giant in an all-cash deal.
According to Reuters, the companies will announce the offer before the market opens on Monday, Jan. 22. Kindred Group shared that FDJ will acquire its remaining share capital.
Pushing for Kindred's Sale
The acquisition plan of FDJ was already reported earlier. The negotiations came after Corvex Management LP, a hedge fund manager and activist investor based in New York, started pressing for a potential sale of an online gambling and gaming company. This pushed the board to approach several companies and private equity funds to place a bid.
Some groups contacted include Tipico, Apollo Global, Blackstone, Entain, and 888. However, none of the firms expressed interest, but later, FDJ entered the picture. Bloomberg reported that if the deal is successful, the merger will result in the formation of one of Europe's largest online gambling operators.
Update and FDJ's Confirmation of Bid
In the latest update about the acquisition, FDJ finally confirmed and released a statement regarding its plan to buy Kindred. The company said it will buy the French lottery operator to become a global gaming operator.
"I am pleased to announce today the proposed acquisition of Kindred. Fully aligned with our strategy, it will give the Group a diversified and balanced profile, based on several pillars: the monopoly activities, mainly the lottery, on our French historical market and, since November, in Ireland, with the acquisition of the Irish lottery operator PLI; and online sports betting and gaming activities open to competition in Europe," FDJ Group's chairwoman and chief executive officer, Stéphane Pallez, said in a press release.
She added, "Given their respective histories, strategic strengths and core values, FDJ and Kindred are highly complementary. The combination will result in a stronger strategic positioning and significant value creation for the benefit of our shareholders and broader stakeholders."
Kindred's CEO, Nils Andén, commented, "I believe that combining with FDJ, Kindred can accelerate the delivery of long-term strategic projects, continue to grow in core markets, and provide a trusted source of entertainment to customers."
Photo by: Kindred Press Release
