Infogrames Looking to Buy Out Atari Stock

Category: News Archive

Hits: 673

Written by BuckGB on March 9th, 2008

Tweet

Atari Inc has announced that it received a letter from Infogrames Entertainment SA, the company's majority shareholder, expressing its intent to acquire the remaining outstanding stock of the company.

Infogrames' offer, which is non-binding, amounts to USD 1.68 per share for the Atari Inc stock it does not own.

Atari Inc said that a special committee of the company's board of directors intends to undertake, together with its advisors, a thorough evaluation of the proposal.

There is no assurance that any transaction will occur or to the terms of any transaction.

The Infogrames business is currently in the midst of a resurgence lead by the vision of new CEO David Gardner.

Gardner has placed great value on the Atari brand, and intends to rebuild the struggling company as a destination for online gaming.

• Prev
• Next