GameStop surges after a report says it could be taken private

Stock Market1 min read

Markets Insider

• Shares of GameStop surged more than 10% Monday following a Reuters report that suggested the private equity firm Sycamore Partners is interested in taking the video-game chain private.
• The wire service reported that GameStop had hired a financial advisor to assist in discussions with private equity firms including Sycamore.
• Headquartered in New York, other Sycamore retail investments include Hot Topic, Belk, and Talbots. The firm has some $3.5 billion in capital under management, according to its website.
• GameStop has struggled to keep its footing in an increasingly digital video-game industry that's being dominated by players like Steam and platform-specific online stores that allow consumers to forego the traditional method of purchasing a physical game disc.
• Shares of GameStop have declined more than 60% in the past five years.
• Follow GameStop stock in real-time here.

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