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SOLD! EIDOS ACCEPTS ELEVATION OFFER

London publisher Eidos has announced it has accepted an all-cash offer from Elevation Partners - a private equity group helmed by U2 singer Bono and former Electronic Arts president John Riccitiello - to the tune of GBP 71.0 million, thus rejecting a second all-share offer from SCi Entertainment Group which valued the company at GBP 76.1 million.

Last Updated: Mar 23, 2005

WAS WRITING ON THE WALL FOR EIDOS?

In the summer of 2001, U2 - led by Irish rock star Bono - lent their talent to Paramount Pictures by performing on the Lara Croft Tomb Raider soundtrack. The title of their track? Elevation. So it's kind of ironic how the Irish rocker and former Electronic Arts president John Riccitiello have joined forces to rescue beleaguered publisher Eidos - creators of the Tomb Raider video-game - in the form of a acquisition offer. To celebrate the event, collect our HDTV Elevation music video, as released by U2 in 2001.

Last Updated: Mar 22, 2005

EIDOS TO 'CONSIDER' 76.1M SCi OFFER

Computer game publisher Eidos - currently at the center of a bidding war - will 'consider' a second offer from SCi Entertainment Group who weighed in with a 76.1 million all-share bid this morning, AFX reports. Overnight, Elevation Partners - a private equity group helmed by U2 singer Bono and former Electronic Arts president John Riccitiello and armed with a 500 million pound war chest - tendered a bid which valued Eidos at 71.0 million.

Last Updated: Mar 22, 2005

EIDOS ELEVATES 15% ON MORNING TRADE

Shares in video-game publisher Eidos have climbed 15% during morning trade following an announcement this morning that Bono's Elevation Partners had made a successful bid for the beleaguered publisher. U.S. private equity group Elevation Partners - which includes U2 singer Bono and former Electronic Arts president John Riccitiello - offered 50 pence for each Eidos share for the whole of the issued and to be issued share capital of Eidos. The bid values Eidos at approximately GBP 71.0 million.

Last Updated: Mar 22, 2005

ELEVATION HOLDINGS TO ACQUIRE EIDOS

The Directors of EM Holding and Eidos announce that they have reached agreement on the terms of a recommended cash offer of 50 pence (approximately $0.96) for each Eidos Share and each Eidos ADS (each Eidos ADS representing 1 Eidos Share) for the whole of the issued and to be issued share capital of Eidos (the Offer). This values the whole of the issued share capital of Eidos at approximately GBP 71.0 million (approximately $136.3 million).

Last Updated: Mar 22, 2005

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