Embracers Broken $2 Billion Verbal Agreement Was Reportedly with Saudifunded Savvy Games
No reasons, only more questions.
Embracer Group is currently undergoing major internal reorganisation after apparently overextending, with hard-working employees bearing the cost in the ensuing layoffs and closures. This restructuring has already begun, but a new report has shed some further light on how the situation all came about.
Axios reports, citing "four sources familiar with the deal", that the Swedish holding company's mystery partner, the one that walked away from a deal worth $2 billion after seven months of negotiations, was none other than Savvy Games. A "verbal agreement" was in place, and this reversal caused Embracer's shares to plummet 40% in response.
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