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
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