The board at Subsequent Video games is urging stakeholder acceptance of the money tender provide from Netflix (NFLX -2.1%) to take over the Finnish sport developer.
A quorum comprising the non-conflicted administrators was unanimous in recommending accepting the provide, for €2.10/share in money – a €65 million proposal.
That value marks a premium of about 126% to Subsequent Video games’ €0.93 share value on the final buying and selling day earlier than the provide was introduced.
“The pace of consolidation within the video games and leisure trade is accelerating and the Board of Administrators see a transparent profit for Subsequent Video games in becoming a member of forces with one of many largest leisure corporations on this planet,” says Subsequent Video games Chairman Petri Niemi. “In our view, Subsequent Video games will profit from Netflix’s long-term experience within the leisure enterprise and second-to-none technological and inventive experience in addition to data-driven technique. The Board of Administrators sees that the provide presents a good and engaging alternative for Subsequent Video games and its shareholders.”
Finishing the provide is not anticipated to have rapid materials results on operations, however “as is customary, the Offeror intends to vary the composition of the Board of Administrators of Subsequent Video games after the completion of the Tender Supply.”
Subsequent additionally notes that main shareholders together with Jari Ovaskainen and AMC Networks Ventures – collectively making up about 43.3% of shares and votes – have irrevocably undertaken to tender into the provide.
Subsequent Video games is understood for a license to publish cell video games based mostly on The Strolling Useless tv collection.