GAME has agreed to a £51.9m takeover by Mike Ashley’s Sports Direct.
The retailer’s board of directors accepted the 30 pence per share offer, which it said in a note “represents a fair value for the Group”.
It sounds like GAME didn’t have much choice but to accept the offer from Sports Direct, whose shareholding in the group was already growing. GAME was also relying on Sports Direct for supporting its plans for growth, which involve the future rollout of Belong and GAME venues.