Tencent is not an unknown in the UK. It has won influence through education donations and the funding of chairs at Britain s top universities including Oxford, Cambridge and Edinburgh.
This may be among the reasons the buyer is confident that its purchase will not need to be scrutinised under the terms of the recently passed UK Investment & Securities Act.
It also has powerful support in the investment community. Tencent became the biggest holding of Baillie Gifford s Scottish Mortgage Investment Trust when it sold out of Tesla earlier this year.
All of this makes the Tencent offer too cosy. It might have been hoped that the board would have put up resistance, given it is graced by Ian Livingstone as chairman and Michael Sherwin as senior non-executive, two heavy hitters from Games Workshop. Instead it embraced the predator without a smidgen of dissent.
British video game developers Sumo acquired by Tencent
geeky-gadgets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from geeky-gadgets.com Daily Mail and Mail on Sunday newspapers.
173 job vacancies at booming Sheffield software company worth £900m
thestar.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.co.uk Daily Mail and Mail on Sunday newspapers.
Tencent have bought another game developer, so let s see how big their collection is now
rockpapershotgun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rockpapershotgun.com Daily Mail and Mail on Sunday newspapers.
under Part 26 of the UK Companies Act 2006 Summary · The boards of Tencent Holdings Limited ( Tencent ) and Sumo Group plc ( Sumo ) are pleased to announce that they have reached an agreement on the terms of a recommended all cash acquisition by Tencent, through its indirect wholly-owned subsidiary, Sixjoy Hong Kong Limited ( Tencent Bidco ), of the entire issued and to be issued ordinary share capital of Sumo which members of the Tencent Group do not already own. · Under the terms of the Acquisition, Sumo Shareholders will be entitled to receive: for each Sumo Share: 513 pence in cash · The price of 513 pence in cash for each Sumo Share values the entire issued and to be issued share capital of Sumo at approximately £919 million on a fully diluted basis.