Tag Archives: failed bid
Mon, Apr 28, 2008 | 20:24 BST
Infogrames has just released a statement saying it made a bid for SCi which was rejected by the board.
“Infogrames’ proposal is financially disciplined and recognises the strengths of both companies,” said the company.
“Although the indicative offer is subject to standard conditions relating to due diligence, the receipt of irrevocable undertakings from certain SCi shareholders and the recommendation of the SCi Board, it is not subject to financing.
“Infogrames has sufficient resources to satisfy the cash element of its indicative offer and has secured commitments in relation to the potential working capital requirements of the enlarged group. Importantly, Infogrames is in a position to move expeditiously with its proposal.”
SCi confirmed a financing deal with Warner Bros. this week.
More on GI.