Mike Ashley looking to expand empire with acquisition of Game Digital

Latest News | National | Retail

Mike AshleyMike Ashley’s retail empire could have a new company, as the Sports Direct owner is looking to add Game Digital for £51.9m.

Ashley’s High Street expansion has already seen him have pull or part ownership of House of Fraser, Debenhams, Evans Cycles, French Connection, Sofa and Flannels.

However, earlier this year, he did fail in his attempted full acquisition of Debenhams.

The potential acquisition of Game Digital was announced earlier today, as Sports Direct offered 30p a share, as Ashley looks to up his stake in the business to 38.5%. He needed to have a controlling stake of over 30% to trigger a takeover of the company.

Ashley has been a stockholder in the company since July 2017.

Sports Direct have warned of the potential closure of some Game Digital stores or a merger with current Sports Direct high street stores. They also warned of potential future job losses following a successful acquisition.

 

Did you enjoy reading this content?  To get more great content like this subscribe to our magazine

Reader's Comments

Comments related to the current article

Leave a comment

Your email address will not be published. Required fields are marked *