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Enad Global 7 stock jumps after US activist investor pushes for sale

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NEW YORK : Enad Global 7 AB's stock price jumped 5 per cent on Monday after U.S. activist investor Alta Fox urged the Swedish video game company to explore strategic options, including a possible sale.Alta Fox asked EG7's board to 'expeditiously' address the company's trading discount and forecast that a

NEW YORK : Enad Global 7 AB's stock price jumped 5 per cent on Monday after U.S. activist investor Alta Fox urged the Swedish video game company to explore strategic options, including a possible sale.

Alta Fox, which owns 6 per cent of EG7 and made headlines last year by running a board room challenge at toymaker Hasbro, is worried the market is not valuing the company properly despite positive steps taken by management. A representative for EG7, which has game development divisions Daybreak Games and Big Blue Bubble, did not immediately respond to a request for comment.

 

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