Keywords Studios plc (AIM:KWS) has received a takeover proposal from Swedish investment company EQT Partners AB, valuing the Irish video games services provider at over GBP 2 billion (USD 2.53 billion/EUR 2.33 billion). The target company saw its shares jump as much as 70% to GBP 24.98 on May 20, 2024 in London, after it unveiled the receipt of the offer over the weekend. The suitor has proposed to pay GBP 25.50 per share in cash for Keywords Studios.

In addition, the Irish company's shareholders will be entitled to receive a final dividend of GBP 1.76 apiece, according to the statement. The possible offer comes after Keywords? board turned down four unsolicited proposals from EQT and represents a ?significant increase from the initial proposal,?

the press release said. The Irish firm noted that following a careful evaluation, its board has concluded that it would be "minded" to recommend the offer to the company's shareholders. Under the UK takeover rules, EQT has until June 15 to make a firm offer or walk away.