Atari and Infogrames Finalize Re-Merger
Atari has entered into a definitive agreement with Infogrames that will have Infogrames fully acquire the portions of Atari that it does not already own.
Infogrames will acquire all the outstanding stock of Atari that it does not own for $1.68 per share (as previously reported). Infogrames already owns 51.4% of Atari's outstanding stock, and will require the remainder for approximately $11 million.
According to David Gardner, Chief Executive Officer of Infogrames, "Bringing Atari US and Infogrames businesses together will enable us to create a simplified global structure for our business as we seek to re-build a well-managed, cohesive and financially disciplined company. This is a key strategic event for Infogrames that will benefit all of our shareholders. I believe that this transaction will generate significant benefits for the Group."
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