Despite a notable rise in the company's share price as talk of a possible buyout broke, Game itself has called for calm, claiming there's no guarantee any offers tabled will provide a solution to the company's woes.
The statement, released after news broke Comet owner OpCapita had offered to buyout the Game Group's lenders, confirmed a third party had "shown interest in providing additional funding for the company", but claimed it was anything but a done deal.
Sharing the news
"The third party is seeking a dialogue with the Groups current lenders, however there is no certainty to the outcome," the company said in a statement.
"At the same time, the board remains in its own discussions with its current lenders as it continues to conduct a review of its business and assets.
"It is uncertain whether any of the solutions currently being explored by the board will be successful or will result in any value being attributed to the shares of the company."
MCV has since claimed US retailer Walmart, which is also believed to be interested in a buyout, has offered shareholders 12p per share, which would value the company at over £40 million.
Meanwhile, the site also reports OpCapita has warned it may have to lay off 1,000 jobs at electronics chain Comet a 30 percent cut in the company's total workforce.
[source: Game]
News
With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.
Top Stories
Feature
May 17th, 2024
New release roundup: The best new mobile games from a battle royale to a console classic remake
Feature
May 16th, 2024
Behind the scenes: How adding sandwich offers to an idle merge game boosted three metrics at once
Events
Digital Dragons | Europe | May 19th |
GamesBeat Summit 2024 | North America | May 20th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Nordic Game Spring 2024 | Nordic | May 21st |
Impact 2024 - Indie Games | May 23rd | |
Morocco Gaming Expo | Africa | May 24th |
MomoCon 2024 | North America | May 24th |
Unreal Fest Gold Coast 2024 | Australasia | May 29th |
Popular Stories
Feature
May 14th, 2024
53 top mobile games in soft launch: Squad Busters, Battle Guys: Royale, Plants vs. Zombies 3, LEGO Hill Climb Adventures, and more
Feature
May 13th, 2024
Hot Five: Dubai's new Gaming Visa, April's mobile game charts, and Xbox studio closures
Interview
May 13th, 2024