EIDOS PLC NOT GAME FOR TAKEOVER
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[ October 10th 2000 ]

Eidos Plc., the U.K. video game maker that created animated heroine Lara Croft, slammed the door on a potential takeover Monday after it concluded that the terms and price didn't offer a good value to its shareholders. Eidos shares fell 11% on the London stock exchange to 261 pence Monday and dropped 14% on the U.S. Nasdaq market to 3.88. Eidos indicated last month that progress had slowed on its negotiations to sell the company.

In a statement released Monday, the company said the board gave "serious consideration" to a sale but concluded that the terms discussed didn't represent fair value. The company declined to give the names of bidders. Infogrames SA, Microsoft Corp. and Electronic Arts were thought by analysts to be the top potential buyers. Eidos said it will continue to pursue its strategy of developing new game software, including products for the films "Chicken Run" and "102 Dalmatians."