FDJ Bids $2.7 Billion for Kindred to Create Gambling Giant (2)

Shares in La Francaise des Jeux SA rose the most since 2022 after the French gambling group agreed to buy Sweden’s Kindred Group Plc for 27.95 billion kronor ($2.7 billion).

FDJ’s offer of 130 kronor per share in cash represents a premium of 24% over Kindred’s closing price on Friday, according to a statement on Monday. The deal will be financed by the company’s internal cash and a loan from BNP Paribas SA and Societe Generale SA.

La Francaise des Jeux rose as much as 6.1% to €36.46, the biggest intraday increase since May 2022. Kindred shares rose as much ...