Rank Group has made a recommended £115.3m cash offer for Stride Gaming, which equates to an EV of £93.4m. Using the run-rate H119 EBITDA, the deal is valued at c 7.5x EV/EBITDA. The offer of 151p per share is a 29% premium to the previous day’s closing price. Irrevocable commitments have been received by 61.3% of Stride’s shareholders and completion is anticipated in Q319.
03 Jun 2019
Stride Gaming - Recommended cash offer from Rank
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Stride Gaming - Recommended cash offer from Rank
Stride Gaming (STR:LON) | 0 0 (-0.9%) | Mkt Cap: 146.2m
- Published:
03 Jun 2019 -
Author:
Victoria Pease -
Pages:
2
Rank Group has made a recommended £115.3m cash offer for Stride Gaming, which equates to an EV of £93.4m. Using the run-rate H119 EBITDA, the deal is valued at c 7.5x EV/EBITDA. The offer of 151p per share is a 29% premium to the previous day’s closing price. Irrevocable commitments have been received by 61.3% of Stride’s shareholders and completion is anticipated in Q319.