By Luke Tugby2019-06-05T13:17:00
Sports Direct has tabled a £51.9m offer for Game Digital – and pledged to launch an immediate review of its operations should the deal go through.
The sportswear giant has made the mandatory offer after taking its shareholding past 30%.
Under Takeover Code rules, shareholders are required to make a full takeover bid once they surpass that threshold.
The Sports Direct bid of 30p in cash for each Game share values the retailer at £51.9m – a premium of 27.4% on yesterday’s closing price of 23.5p.
Sports Direct has been an investor in Game since July 2017 and has worked with the business to install the Belong gaming arenas and Game concessions in a clutch of its larger stores.
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