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.
Source: Games Industry