Although it remains one of the key players in the videogame industry, the physical hardware and software market is not going through its prime. It is a situation that is very conscious companies like the American GameStop or the British Game. The latter are the ones that have received a significant offer from the retail chain of sports products Sports Direct, forced to do so, contractually, after increasing its share in the video game giant.
Sports Direct already has a stake in Game of 38.49%, and you have made an offer in which he would pay 30 pence per game, a total of 51.88 million pounds, a figure that would be satisfactory for the board . According to a statement from the firm’s management, and given the circumstances of the industry itself and the challenges that lie ahead for physical stores in the coming years. Of course, the chain has bothered Sports Direct’s decision to “issue its unilateral bid document” ” while the board consulted its shareholders, advisers and the sports network itself.
Sports Direct has submitted an offer of more than 50 million pounds. In any case, it seems that the offer satisfies Game: ” The board concluded unanimously after a detailed deliberation period and having been advised by Canaccord Genuity Limited, that 30 pence per share represents a reasonable value for the group and, therefore, intends to recommend that shareholders accept the offer, as shareholders on the board intend do. ” As explained by the GamesIndustry portal, Sports Direct has been a leading partner in the launch of Belong, the game gaming business of Game launched in the United Kingdom.
The operation, explained the board, would be positive to continue strengthening Game and Belong, since ” You consider that the mandatory offer to the series of strategic benefits for the Game business, including the opportunity to benefit from the greater financial and operational support of Sports Direct ” It is what the present operation would have on the subsidiary. Given the urgency of the statement, it is likely that a decision will be made in the coming days.