Reuters.com - Infogrames to acquire outstanding Atari shares

misreported (maharetm@gmail.com) has sent you this article.

Personal Message:

Infogrames to acquire outstanding Atari shares

Thu May 01 14:44:09 UTC 2008 PARIS (Reuters) - Europe's largest video games maker Infogrames <IFOE.PA> said it had agreed to merge with its 51.4 percent owned U.S. affiliate Atari Inc <ATAR.O> by acquiring remaining Atari shares at $1.68 each, or $11 million in total. "The merger will be funded by Infogrames from existing resources," Infogrames said in a statement released on its Web site on Thursday, adding it expected the deal to be completed in the third quarter of 2008. The announcement came as Infogrames attempts to restore Atari's profitability. Infogrames has said Atari's financial performance was a significant drain on its own profitability. "Bringing Atari U.S. and Infogrames businesses together enables us to create a simplified global structure for our business as we seek to rebuild a well-managed, cohesive and financially disciplined company," Infogrames Chief Executive David Gardner said in the statement. Atari shares closed at $1.60 in New York on Wednesday, while in Paris -- where the market was closed on Thursday for labor day --the stock had closed up 0.8 percent at 11.79 euros. (Reporting by Marie Maitre; Editing by David Holmes/Quentin Bryar)

This service is not intended to encourage spam. The details provided by your colleague have been used for the sole purpose of facilitating this email communication and have not been retained by Reuters. Your personal details have not been added to any database or mailing list. If you would like to receive news articles delivered to your email address, please subscribe at www.reuters.com

© Copyright Reuters 2006All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks or trademarks of the Reuters group of companies around the world. Quotes and other data are provided for your personal information only, and are not intended for trading purposes. Reuters, the members of its Group and its data providers shall not be liable for any errors or delays in the quotes or other data, or for any actions taken in reliance thereon. © Reuters 2006. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.