Wikborg Rein assisting Chess.com in public takeover of Play Magnus
We are together with Paul Weiss assisting Chess.com with a recommended offer to acquire all outstanding shares in Play Magnus AS.
The offer price per share of NOK 13.00 values Play Magnus AS at approximately NOK 800 million. The offeror has received pre-acceptances to accept the offer from the shareholders represented on the Board, totalling 37.38% of the issued share capital of Play Magnus AS. The offer period is expected to commence no later than 7 September 2022.
Chess.com is a leading provider of chess gaming and other chess-related services offering a vibrant forum and social network, a news feed, a chess academy, a coaching platform, tactics and puzzles, live tournaments, a separate website for kids, and ChessTV.