In September Access Industries lead by US billionaire Len Blavatnik had begun its pursuit of Perform Group, offering a + £700 million cash offer to company shareholders. Perform Group governance appealed to shareholders to reject the offer placed by the investment group, stating that the offer ‘undervalued the company’s value’.
In the months following their initial shareholder offer, Access Industries has increased its stake in Perform Group from 42.5% to 77%.
Having surpassed the 50% stake threshold last month and becoming the controlling stakeholder in Perform Group Plc , Access Industries is set to acquire the remaining company shares at a set price of 260p per share.
Access Industries confirmed to igaming news source TotallyGaming.com that its remaining shareholder offer will close at 1pm UK time on December 2 “and will not be further extended”.