Jun 5, 2019

Sports Direct makes Game Digital takeover offer

Mike Ashley's retail empire Sports Direct is making its latest High Street expansion move with a £51.9m bid for Game Digital. Sports Direct said it will offer 30p a share for Game Digital under the cash bid, which was triggered after it upped its stake in the chain to 38.5%. But Sports Direct warned there may be job losses if the bid succeeds. Sports Direct said it did not does believe that, as a standalone business, Game was "Able to weather the pressures that it is facing". "Sports Direct believes that the offer, in providing Game with the wider benefit of Sports Direct's operating and other experience and increased support, will secure Game's future and allow it to navigate these pressures," it said. It added the 30p-a-share bid was final and represents a 27% premium to Game's closing price on Tuesday of 23.55p. Sports Direct was required to make a mandatory offer for Game under UK takeover rules after taking its stake above 30%..

Read the full story

 Related companies

Make a complaint about Sports Direct by viewing their customer service contacts.