London-listed video game services company Keywords Studios announced on Wednesday that it accepted Swedish investment company EQT's £2.2 billion takeover offer.
"The boards of Bidco and Keywords Studios are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Keywords Studios by Bidco. The Acquisition is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act," the companies added.
Shareholders will receive 2,450 pence per Keywords Studios share in the transaction, which is a 67% premium over the company's closing price of 1,470 pence on May 17, the last business day before the offer period began. The deal is expected to be finalized during the year's final quarter.
