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Finance

Gameforge increases offer to remaining Frogster shareholders

Mon 13 Sep 2010 10:08am GMT / 6:08am EDT / 3:08am PDT
Finance

Frogster management considers takeover to be friendly as Gameforge looks to increase 60% stake

Gameforge

With an impressive portfolio of around 20 titles and over 380 million registered players, Gameforge is...

gameforge.de

Gameforge has increased its per-share price offer to remaining Frogster shareholders in an attempt to consolidate its position as the company's major shareholder, offering 27.50 (22.78) per share instead of the original price of 25 (20.71).

Last month, Gameforge announced that it had secured 60 per cent of Frogster's shares, with 15 per cent remaining in the hands of management, and 25 per cent on the open market. Gameforge has assured shareholders and employees that it intends to maintain Frogster as an independent concern, with staff and office locations remaining unchanged.

Frogster's management has indicated in a press release that it understands that this will be the highest price which Gameforge is willing to pay for the shares, and that the management intends to accept the offer and sell its portion of stock, recommending that "the Frogster shareholders...assess the offer carefully and benevolently again".

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