March 7, 2008, 11:42 am
Atari: Majority Owner Infogrames Offers To Buy Remaining Shares At $1.68; No Premium To Recent Price
Posted by Eric Savitz
Atari (ATAR), a struggling video game software company which dominated the industry’s early years, late yesterday revealed that Infogrames Entertainment, which already owns a 51.6% stake, has offered to buy the rest for $1.68 a share. That would be exactly 2 pennies above yesterday’s closing price.
Atari actually made the offer on March 5 in a letter to the Atari board which was dated March 5. Infogrames asked for a response by the end of business on March 11.
Atari today is unchanged at $1.66.
Comments
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Atari is not the Atari that dominated the industry’s early years. The current Atari merely leases the name. It seems fact-checking is a lost art among the mobs of voices out here.
Comment by
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March 8, 2008 at
4:58 am
Glad at least readers note this - could speak for the audience
Comment by
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March 8, 2008 at
1:49 pm
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Tech Trader Daily is a blog on technology investing written from Palo Alto, California by long-time Barron's West Coast Editor Eric J. Savitz. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields.
