Latest high street move
Ashley’s Sports Direct in £52m bid for Game Digital
Sports Direct said it will offer 30p a share for Game Digital after a bid was made mandatory when it raised its stake in the chain to 38.5%.
However, it warned there may be store closures and job losses if the bid succeeds amid plans to review the chain and potentially merge some sites with others in the wider group.
Sports Direct was already Game’s largest shareholder after acquiring 26% of the business in July 2017.
It said: “Sports Direct does not believe that, as a standalone business, Game is 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.”