Eidos Now Recommends SCi Takeover

By Maarten Goldstein, Apr 07, 2005 8:09am PDT

Just a few weeks ago it looked like investment group Elevation Partners would buy troubled publisher Eidos, but it seems unlikely that is still going to happen. Instead Eidos is now recommending to its shareholders that they accept a bid by SCi Entertainment.

In the light of the recent movement in the SCi share price, and in the absence of an increased cash offer from Elevation, the Board recognises that whilst there are certain key risks for Eidos shareholders in accepting the SCi Offer (as described more fully below) the current implied value of the SCi Offer of 72.8 pence per Eidos share based on the closing price of SCi shares on 6 April 2005 represents a significant premium to Elevation's Offer.
SCi is the publisher of such games as Carmegddon, Conflict: Vietnam and Richard Burns Rally.

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