Tencent To Acquire Remaining Stake In Sumo Group At 43% Premium: Bloomberg

July 19, 2021 8:31 AM | 1 min read |

Tencent Holdings Ltd TCEHY agreed to acquire the remaining unowned stake in Sumo Group PLC SUMGF, Bloomberg reports.
Tencent offered 513 pence per share for Sumo, a 43% premium to Sumo's last closing price. The transaction values Sumo at $1.26 billion.
Tencent already owns 8.75% of Sumo, valuing the outstanding shares at £803.
Sumo creates games for other publishers, including Apple Inc's AAPL Arcade service, Xbox Game Studios, Electronic Arts Inc EA, Activision Blizzard Inc ATVI, and Ubisoft Entertainment UBSFF UBSFY.
Price action: TCEHY shares closed lower by 1.6% at $71.47 on Friday.