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SCi SECURES LARGER
SHARE OF EIDOS PLC
Copyright 2005 www.tombraiderchronicles.com
[ 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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