Mark Androvich
01:22 (BST)
07/03/2008
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Infogrames offers to buy Atari Inc.
Offering $1.68 per share for remaining stock
Atari Inc has announced that it received a letter from Infogrames Entertainment SA, the company's majority shareholder, expressing its intent to acquire the remaining outstanding stock of the company.
Infogrames' offer, which is non-binding, amounts to USD 1.68 per share for the Atari Inc stock it does not own.
Atari Inc said that a special committee of the company's board of directors intends to undertake, together with its advisors, a thorough evaluation of the proposal.
There is no assurance that any transaction will occur or to the terms of any transaction.
The Infogrames business is currently in the midst of a resurgence lead by the vision of new CEO David Gardner.
Gardner has placed great value on the Atari brand, and intends to rebuild the struggling company as a destination for online gaming.
This week former Sony executive Phil Harrison joined Infogrames as president, where he will oversee software development and other creative aspects of the business.
Gardner spoke to GamesIndustry.biz at the start of the week, and the full interview can be read here.
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