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Eidos stock jumps on takeover bid

By Phil Elliott

Fri 16 Jan 2009 9:23am GMT / 4:23am EST / 1:23am PST

Shares rocket 40%, before falling back to 20% levels in early trading

Shares in publisher Eidos took another turn this morning following the announcement after trading yesterday that a takeover bid had been received by the company.

That news prompted the stock to rocket by an initial 40 per cent, going from 12 pence to 17 pence, before it fell back down to 14.5 pence at the time of writing - a figure that currently represents a 20 per cent increase on yesterday's close.

The price hit a low of 8.2 pence earlier this week following a trading update which lowered revenue forecasts, while it started the year at 16.2 pence.

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