DoubleU Games already owns a majority 67.1% stake in the social casino and iGaming operator and has offered $11.25 per share for the remainder
South Korea-listed DoubleU Games has made an offer to acquire all of the outstanding shares that it does not currently own in DoubleDown Interactive.
DoubleU is already the company’s controlling shareholder with approximately 67.1 per cent of DoubleDown’s outstanding common shares.
It has now made an offer to acquire all of the outstanding common shares (including American Depositary Shares) for $11.25 per share in cash.
In response to the proposal, DoubleDown’s board of directors has formed a special committee of independent and disinterested directors to review, evaluate and negotiate the proposal and to determine the next steps that would be in the best interests of the company and its unaffiliated shareholders.
The special committee is expected to retain independent legal and financial advisors to assist it in its review of the proposal.
“No decision has been made regarding the proposal and there can be no assurance that the company will pursue this proposal or any other strategic outcome, or that any proposed transaction, including pursuant to the proposal, will be approved or consummated,” said DoubleDown.
DoubleDown reported a 5 per cent increase in revenue to $359.9 million for 2025, as revenue in the final quarter rose 17 per cent to $95.8 million. Social casino revenue grew 9 per cent to $97.7 million following the first full quarter of results from newly acquired WHOW Games, while revenue from its iGaming subsidiary, SuprNation, grew 78 per cent to $16.1 million during the quarter.
Shares in DoubleDown Interactive Co Ltd (NASDAQ:DDI) closed 0.82 per cent lower at $10.90 per share in New York Wednesday, while shares in DoubleU Games Co Ltd (KRX:192080) closed 1.13 per cent lower at ₩61,100.00 per share in South Korea.