Directors of computer entertainment retailer Game have advised shareholders to accept a takeover offer from Mike Ashley’s Sports Direct that values the business at £51.9m.
They criticised Sports Direct for unilaterally publishing its formal offer document – the bid was made on a mandatory basis after the sports giant reached the shareholding threshold that triggered an offer – with limited consultation but said it was nevertheless a fair deal.
Game said: “The board has been considering the merits of the mandatory offer and consulting with its major shareholders and advisers, whilst also actively engaging in normal course discussions with Sports Direct and its advisers during this time.”
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