GameStop to issue shares despite falling revenue and store closure plan

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The story "GameStop to issue shares despite falling revenue and store closure plan" was covered 13 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 13h ago

GameStop to issue shares despite falling revenue and store closure plan - Financial Times

Quick Summary:

The company said on Tuesday that proceeds from the issuance of 20mn shares would be used “for general corporate purposes, which may include acquisitions and investments”.

The deal has become an issue in the US presidential race because US Steel is based in Pennsylvania, a critical swing state that vice-president Harris and former president Donald Trump are both hoping to win in November.

People familiar with the situation said Takahiro Mori would meet several deputy cabinet secretaries involved with the Committee on Foreign Investment in the US, the panel that vets inbound investment deals for national security risks.