SCi SECURES LARGER SHARE OF EIDOS PLC
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[ May 11th 2005 ]

SCi Entertainment Group, the British video-publisher locked in acquisition talks with rival Eidos plc, has announced it now has valid acceptances from 77.5pc of Eidos shareholders, according to AFX Financial News. If confirmed, this would rule out the likelihood of Elevation Partners being invited back to the bargaining table following a difficult market trading period for SCi.

A profit warning issued by Electronic Arts - the sector's weather bell - sent an aftershock through the industry late last week and wiped 34pc off SCi Entertainment Group's market capital. The decline valued SCi's all-share bid for Eidos at just 47p - less than the 50p per share which Elevation offered prior to winning the support from Eidos' Board.

SCi Entertainment Group is currently trading at 288.00p per share, with a reduced market capital of 81.97 million. Eidos is down 3pc to 47.50p per share, with a market capital of 67.60 million.

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