Mike Ashley’s Sports Direct Moves Closer to Purchasing Video Game Retailer Game
- Sports Direct increases stake in Game to 84%
- Application for Game’s shares suspension on LSE
- Delisting of shares by 12 August
- £52m offer accepted last month
- 30p per share cash offer
- Shareholders urged to accept the offer
Mike Ashley’s Sports Direct is edging closer to acquiring video game retailer Game, after increasing its stake in the company to 84%. The sports retail giant has also applied for Game’s shares to be suspended from trading on the London Stock Exchange (LSE) and delisted by August 12th. Last month, a £52m offer was accepted by Sports Direct, offering shareholders 30p per share. The LSE statement advises shareholders to accept the offer as it would significantly reduce the liquidity and marketability of any Game shares not acquired by Sports Direct. Once owning 90% of Game’s shares, the Companies Act will allow automatic purchase of remaining stock.
Factuality Level: 8
Factuality Justification: The article provides accurate information about Sports Direct’s increased stake in Game and its plans for delisting the company from the LSE. It also mentions the cash offer made by Sports Direct to shareholders. However, it lacks some details such as the current market reaction or potential impact on Game’s operations.
Noise Level: 3
Noise Justification: The article provides relevant information about a business transaction and its implications without any unnecessary filler content or misleading statements. It also stays on topic and supports its claims with specific details such as the offer price and timeline for delisting shares.
Financial Relevance: Yes
Financial Markets Impacted: Sports Direct, Game retailer
Financial Rating Justification: The article discusses a potential acquisition of one company by another and its impact on trading shares, which is related to financial markets and companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in this article.
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