Private equity firm in talks to buy Keywords Studios

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Keywords Studios has confirmed it's in "advanced discussions" with private equity firm EQT to buy the developer.

According to the Financial Times, the offer is expected to be £2.2 billion. EQT is negotiating a cash offer of £25.5 per share.

In a statement issued this morning, Keywords said EQT previously approached the studio with four "unsolicited proposals" which were rejected, but this one is a "significant increase" from the initial proposal, Keywords' board said, and one it "would be minded to recommend" to the company's shareholders.

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