Gameforge’s offer price of €25 is currently 25.4 percent higher than the weighted average price of Frogster shares for the three trailing months prior to the announcement of this transaction.
Through a subsidiary, Gameforge purchased 36.8 percent of the Frogster shares from a pooled shareholder group. Gameforge’s holdings included 23.2 percent of Frogster’s shares, meaning that currently, the Karlsruhe-based company holds a 60 percent majority share of Frogster and therefore 60 percent of the voting rights of Frogster AG.
"By holding a stake in Frogster, we are strengthening our position in this internationally competitive environment," says Christoph Jennen, CFO of Gameforge AG. "Together with Frogster, we see a good opportunity to expand our presence in the online gaming market even further."