EIDOS SOARS ON
CREST OF BUYOUT NOD
Copyright 2005 www.tombraiderchronicles.com
[ March 21st 2005 ]
in video-game publisher Eidos have climbed 14%
during morning trade with analysts speculating
interest from SCi responsible for the up-turn
in market capital. This weekend Bloomberg.com
reported SCi Entertainment Group was currently
carrying out due diligence and is likely to make
a formal offer for Eidos this week. Some analysts
are speculating SCi has been unmasked as the mysterious
suitor Eidos quoted in the company's recent interim
results ending December 2004.
statement, the company confirmed "a proposal had
been received on 2 March 2005 of a possible cash
offer at a price of 53 pence per share, subject
to one principal condition. However there can
be no assurance that this condition will be satisfied
and no certainty that an offer will be made nor
as to the terms on which any offer might be made.
This disclosure had not been made with the consent
of the other party."
a company formally valued at over 1.5B during
the 90's, has been slowly haemorrhaging during
the past five years, culminating with the closure
of a historic low of 39p last week. Royal Bank
of Scotland recently extended a multi-million
pound loan with a two-week redemption stinger.
Since announcing its intention of seeking a buyer,
Eidos has reportedly been adjudicated by a string
of suitors vying for a takeover bid, including
UBI SOFT, EA, Infogrames and more recently Rupert
Murdock's News Corp. A formal offer has yet to
be made. Eidos must secure funding within the
next 7 days or face risk of being forced to sell
off assets to satisfy RBS dept.
bolsters an arsenal of leading IPs including the
phenomenally successful Tomb Raider franchise,
now under the charge of acclaimed Soul Reaver
creators Crystal Dynamics, the Hitman series,
developed by IO Interactive, and Championship
Manager, now under the aegis of Beautiful Game
Studio. During the past ten years, the London-based
publisher has also acquired many of the studios
responsible for developing Eidos' leading performing
titles, including IO Interactive and original
Lara Croft architect Core Design.