SCI Ends Takeover Talks, Stock Price Plummets
Eidos parent company SCi has proclaimed it has terminated potential takeover negotiations, sending its stock price into a tailspin.
GameDaily reportable the announcement, which came after discussions with several potential suitors that had been ongoing since September 2007. The company did not receive a formal buyout bid within the sentence frame it had set. In a press release, SCi said, "The Company is announcing today that the Board no more believes that a sale of the Company for its full value is possible to be achieved at the current time and has reached the view that IT is not in the Company's or its Shareholders' interests to prolong these discussions furthers and therefore offer-related discussions have been terminated now."
"However, as a result of these discussions definite commercial and strategic opportunities have emerged which the Company is continuing to explore and advance."
SCi also announced that Grave Raider: Underworld, along with three other titles, will be delayed into the fourth quarter of 2008. The move means SCi is today expected to read an operating exit for the total 2008 financial year, but the company even the pull in its statement, saying, "The Plank believes that these simultaneous multi-platform launches in the key buying stop, optimizes the value that these franchises can delivery to the Keep company over the hanker term."
GamesIndustry.biz has reported that SCi's stock monetary value dropped sharply in the wake of the pullout, nosediving by over 56 percent to $1.15 per divvy up, from the old day's closing total of $2.64. The per-share price is the lowest seen aside the caller since earlyish 2003.
https://www.escapistmagazine.com/sci-ends-takeover-talks-stock-price-plummets/
Source: https://www.escapistmagazine.com/sci-ends-takeover-talks-stock-price-plummets/