Privately-held US conglomerate holding company Access Industries has revised its final mandatory cash offer to increase its shareholding in digital sports media company Perform Group to 100%.
Through its PTV subsidiary, Access Industries currently holds 42.5% of the issued share capital of Perform, which operates sports betting services such as real-time sports data provider RunningBall as well as the Watch&Bet live streaming service.
Earlier this month, iGaming Business reported that Access Industries offered 260 pence for each perform share.
However, Perform Group announced yesterday (Monday) that Access Industries had revised the offer to 259.3 pence per share.
Access Industries is now required to revise the terms of the offer in accordance with rule nine of the takeover code.
Despite having received the takeover offer, Perform Group recommended that shareholders reject the proposed move after saying the offer “undervalues” the firm and its properties.
source : www.igamingbusiness.com