Gaming retail giant, GameStop (the parent company to EB Games), has been under a mire of specualtion recently regarding its future. Preceding its report of a Half-Billion Dollar Loss in Q3 2018, the famous retail chain stated that it was looking down the road of selling itself to another company. The company has had a lot of trouble keeping up with the ever-growing popularity of digital media and it really shows.
According to Wall Street Journal, there are at least two companies currently bidding for GameStop, and that news about the potential sale could be made public by the middle of February. WSJ cites that the first of the comapnies bidding for GameStop are Sycamore Partners. Sycamore are a company built around retail and consumer investments, so an acquisiuiton of GameStop would not be completely off the mark. Secondly, there is Apollo Global Management. An acquisition by Apollo would also make sense as they make investments in companies that have, for lack of a better term, hit hard times. According to Apollo’s co-president, the company is looking to invest in businesses that “others are unable or willing to figure out.”
Naturally, both these companies have maintained radio silence on the matter as well as GameStop itself.
If you would like to read the entire report from WSJ, click here (subscription required).