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Eidos Not Game On Takeover Terms

On Monday, October 9, 2000, Eidos Plc., the U.K. video game maker, declined a potential takeover after it decided that the terms and price didn't offer a good value to its shareholders. Eidos wouldnt release the names of the bidders, which analysts had rumored were either Infogrames SA, Microsoft Corp. or Electronic Arts. Upon the news, the companys shares fell 11% on the London stock exchange to 261 pence and dropped 14% on the Nasdaq stock exchange to US$3.88. Eidos announced in late June that it had begun sale negotiations, however Monday the company said, "The board gave the approach serious consideration, but concluded that the terms discussed did not represent fair value for shareholders." Eidos produces the popular games TOMB RAIDER, CHICKEN RUN and 102 DALMATIANS.

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