French gambling operator group La Française des Jeux (FDJ) has brought forward the acceptance period of its proposed £2.1bn acquisition of Kindred.
FDJ said the clearance granted for the move by the French Competition Authority was the last remaining regulatory condition required for completion.
The acceptance period has therefore been pushed forward from November 19.
FDJ will announce the result of the offer on or around October 3.
Completion requires FDJ to become the owner of more than 90 per cent of the total number of shares in Kindred, with FDJ currently in control of 27.83 per cent.
Five shareholders including Corvex Management that represent 26.72 per cent have made an “irrevocable commitment” to the offer before FDJ acquired 1.11 per cent of Kindred’s outstanding shares directly from Veralda in March.
The initial offer was announced in January and Kindred’s board of directors has already unanimously recommended the takeover.
