Kindred Faces Pressure from Activist Investor Corvex

A new investor in Kindred, Corvex, is pushing the company’s leadership to think about selling or joining forces with another company.

Corvex, headed by Keith Arlyn Meister, recently disclosed that they now control more than 10% of Kindred’s stock and voting rights. They are convinced that Kindred holds a strong position in the expanding online gaming industry.

Corvex believes that Kindred should bring in experts to investigate potential sale possibilities. They are convinced that a sale or merger could be advantageous for the company.

Although we haven’t made any forecasts about Kindred’s future path, we believe the board should have all pertinent market data and let the information guide their decision-making. We are eager to continue collaborating with the Kindred team.

In response, Kindred Chairman Evert Carlsson stated that the company remains assured in its current approach.

“We are confident in the company’s long-term outlook and its capacity to generate value for all stakeholders. We welcome and anticipate productive dialogue with all shareholders,” Carlsson remarked.

Last week, Kindred reported a 30.2% decrease in first-quarter 2022 income, primarily due to its exit from the Netherlands. However, the company narrowly maintained profitability.