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IN BRIEF: Sumo Group shareholders support takeover by Tencent

Fri, 10th Sep 2021 19:24

Sumo Group PLC - Sheffield, England-based video games company - Says majority of its shareholders vote in favour of its takeover by Shenzhen-based Tencent Holdings Ltd. The company says it expects the completion of the acquisition in December.

Back in July, Sumo Group has agreed to a takeover offer by Chinese technology giant Tencent at an equity valuation of GBP919 million. Existing shareholder Tencent offered 513 pence per share in cash for Sumo Group.

Tencent current stock price: HKD490.00

Year-to-date change: down 13%

Sumo Group current stock price: 485.00p

Year-to-date change: up 45%

By Evelina Grecenko; evelinagrecenko@alliancenews.com

More News

27 Feb 2020 15:18

Buy Sumo on shares' weakness, Shore Capital says

(Sharecast News) - Buy Sumo Group to take advantage of share price weakness, Shore Capital said as it upped its rating on the video games developer.

22 Jan 2020 15:10

DIRECTOR DEALINGS: Sumo Group CEO, COO Sell Shares; CFO Buys

22 Jan 2020 13:09

Sumo Group ends year in line as it seeks more acquistions

(Sharecast News) - Video games and entertainment creative services provider Sumo Group said on Wednesday that it expects its final results for 2019 to be at least in line with market expectations.

22 Jan 2020 09:35

Sumo 2019 In Line With Market Forecasts Amid "Significant" New Pacts

15 Nov 2019 16:10

Tencent picks up stake in Sumo Group

(Sharecast News) - Independent video games developer Sumo Group said on Friday that Tencent Holdings, through a direct wholly-owned subsidiary, alongside Perwyn Bidco UK, have notified ot that they have entered into an agreement for the acquisition by Tencent from Perwyn of 15 million shares in Sumo.

15 Nov 2019 09:55

Sumo Shares Rise As Chinese Giant Tencent Buys 10% Stake

11 Oct 2019 09:29

UK BROKER RATINGS SUMMARY: Deutsche Bank Downgrades Whitbread To Sell

26 Sep 2019 12:46

Thursday broker round-up

(Sharecast News) - BBA Developments: Berenberg downgrades to hold with a target price of 335p.

26 Sep 2019 12:17

Sumo Group Swings To Interim Profit, Appoints New Chair

19 Sep 2019 15:58

UK Earnings, Trading Statements Calendar - Next 7 Days

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26 Jun 2019 10:47

Acquisition-hungry Sumo Group trading in line with expectations

(Sharecast News) - Video games and entertainment development company Sumo Group told shareholders that it was continuing to create "strong demand" for its services on Wednesday, as they gathered for the annual general meeting.

19 Jun 2019 16:12

UK Shareholder Meetings Calendar - Next 7 Days

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31 May 2019 12:50

Friday broker round-up

(Sharecast News) - Bunzl: Goldman Sachs upgrades to buy with a target price of 2,700p.

31 May 2019 10:06

Shore Capital raises Sumo to 'buy' following share price drop

(Sharecast News) - Analysts at Shore Capital upgraded their stance on video games developer Sumo Group from 'hold' to 'buy' on Friday following a near 6% drop in the outfit's shares since they initiating coverage on the group on 20 May, noting hat it had created 17% upside potential to its fair value assessment of 159p per share.

24 May 2019 10:59

Sumo Group cuts losses after revenues level up

(Sharecast News) - Sumo Group on Friday reported a reduction in annual losses after revenue jumped on the back of strong contributions from a number of acquisitions.

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IN BRIEF: Sumo Group shareholders support takeover by Tencent

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