Another Takeover (possibly)?

[Jeffers]

I was browsing for free financial reports (found some I'd have to pay for but I don't want to do that) after a recent post about some games being announced and wanted to see if there was anything else listed in it.

Anyway, came accross this (a couple of weeks old now) and wasn't to sure what to make of it.

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Source: http://uk.news.yahoo.com/25102005/32...pproaches.html


SCI Entertainment says had two approaches

LONDON (Reuters) - Britain (NASDAQ: VRTS - news) 's biggest video game company SCI Entertainment Group <SEG.L> said on Tuesday it had received two approaches, clarifying an announcement on Monday that it had received "approaches from various parties".

SCI said the first bidder had not notified the group if it intended to continue with its bid and no discussions had been held since June. SCI said it had received another approach last week and discussions were ongoing.

Newspaper reports said the approaches had come from U.S. video game publisher Midway Games (NYSE: MWY - news) <MWY.N> and Electronic Arts Inc. <ERTS.O>, the world's largest games maker, as well as the private equity house Apax Partners.

On Monday a spokesman for EA said the company did not comment on rumours about its corporate development strategy. EA has long been rumoured to have been interested in SCI's recent acquisition, Eidos (LSE: EID.L - news) , most famous for its "Tomb Raider" games.

A Midway (Stockholm: MIDWB.ST - news) spokesman declined to comment on Monday.

Apax Partners was not immediately available to comment on Tuesday.

SCI last month posted a smaller-than-expected nine-month pretax loss of 14 million pounds and said it had made a positive start to the 2005/06 financial year with a strong release schedule of new products such as a new version of "Lego Star Wars".

SCI said a further announcement would be made when appropriate.

Shares in SCI closed at 600 pence on Monday, valuing the company at around 433 million pounds.

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Jeffers