DOODLE

About DOODLE

Doodle is the investment vehicle that launched the public tender offer for Lexibook in 2024 and emerged as the controlling shareholder of the group following the transaction. It is a French simplified joint-stock company (société par actions simplifiée), incorporated in Évry and headquartered in Les Ulis. Doodle was created to execute a transformative transaction involving Lexibook, a European player in licensed electronic leisure products. The deal was structured in summer 2024 around a €4.00 per-share offer price and an investment agreement signed on 18 July 2024 between the initiator, the Le Cottier family, and investor Lawrence Rosen LLC. In this structure, Doodle acted jointly with Lawrence Rosen LLC and the Le Cottier family, which has long been associated with Lexibook. The intended ownership of Doodle itself was to be 56% held by the founders and 44% by Lawrence Rosen LLC, reflecting a mix of industrial continuity and external capital support. The French market regulator AMF cleared the draft offer document on 5 November 2024, and Lexibook later announced that the offer had been successful in December 2024, with Doodle holding 75.93% of Lexibook’s capital after the initial tender period. The offer was then reopened under the same terms before completion. From a governance standpoint, the transaction was carefully supervised by Lexibook’s supervisory board, which formed an ad hoc committee and appointed an independent expert to assess the fairness of the financial terms. AMF filings also indicate that Doodle did not intend to request a squeeze-out, a point likely intended to reassure minority shareholders. This remains the most significant transaction associated with Doodle, both for its effect on Lexibook’s ownership structure and for the strategic consolidation it brought to the company’s shareholding base.