SCi Doesn't Plan to be Acquired

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On September 27, 2007, SCi Entertainment (parent of Eidos) let us know that it was in discussions with several parties concerning an acquisition of SCi. Today, SCi revealed that these talks have not progressed sufficiently.
In the company's words, "the Board no longer believes that a sale of the Company for its full value is likely 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 further and therefore offer related discussions have been terminated today. However, as a result of these discussions certain commercial and strategic opportunities have emerged which the Company is continuing to explore and progress.

In plain English, no one is willing to offer enough to acquire SCi to make SCi's board think an acquisition worthwhile. However, an unannounced deal (not involving an acquisition) is in negotiations.

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This page contains a single entry by Editor published on January 10, 2008 3:59 PM.

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