EIDOS PLC NOT
GAME FOR TAKEOVER
Copyright 2000 www.tombraiderchronicles.com
[ October 10th 2000 ]
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.
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."