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The Telegraph
The Telegraph
3 Jul 2024
Chris Price


European private equity giant swoops on UK-listed video games company in £2.2bn deal - latest updates

A UK-listed video game company has agreed to a £2.2bn takeover by European private equity in the latest departure from the London Stock Exchange.

Keyword Studios has announced it has reached a deal with Swedish private equity giant EQT worth £24.50 per share in cash.

The deal represents a 5.7pc premium on Tuesday’s closing price for Irish company, which develops games, audio and art for Fortnite maker Epic Games and Call of Duty maker Activision Blizzard.

Keyword had rejected several previous bids from EQT but said the latest offer was a “ significant increase from the initial proposal”.

However, its latest bid was below an offer price of £25.50 tabled in May.

Read the latest updates below.