IN BRIEF: Sumo Group's takeover by Tencent gains clearance in US

Sumo Group PLC - Sheffield, England-based video games company - Takeover offer by Chinese technology giant Tencent Holdings Ltd has been cleared by an investigation conducted by the Committee on Foreign Investment in the US.

The acquisition is now subject to being sanctioned by the court, for which a hearing has been scheduled for January 13, 2022.

In mid-July, Sumo had accepted a GBP919 million takeover offer from Tencent, or 513 pence per share in cash.

Current stock price: 510.00 pence, up 5.5% on Tuesday

Year-to-date change: up 52%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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