GameStop Soars on Report That It's Working With Adviser on Sale
This article is for subscribers only.
GameStop Corp. launched its biggest rally in five years following a report that it’s working with Perella Weinberg Partners to explore a possible sale of the embattled video-game chain.
The retailer, the subject of takeover speculation for months, is now running a formal auction, according to DealReporter, which cited unidentified people familiar with the situation. The private equity firms Sycamore Partners and Apollo Global Management are GameStop’s two main suitors, DealReporter said.