Keywords Studios recommends 2.3bn EQT takeover to shareholders [Video]

Keywords Studios has recommended a proposed £1.96bn (€2.3bn) takeover by EQT to its shareholders if the private equity group makes a formal offer.

EQT offered to buy the Dublin-based company for £24.50 (€28.93) per share, which is up from a previous offer of £24.30 (€28.70) made on Wednesday. However, it is lower than a £25.50 (€30.11) per share proposal first disclosed in May.

At the time, Keywords said it had rejected four previous proposals from EQT but did not disclose how much these offers were.

The board of Keywords Studios said that they have assessed the possible offer and have said that they would recommend it to shareholders should a formal offer arise. EQT now has until next Wednesday (3 July) to make the offer or walk away.

Keywords has also warned of lower margins, as it grapples with slower content creationtrends. Reported revenue is still expected to grow by around 7% in …