As
reported earlier, Infogrames, which already holds 51% of Atari stock, wishes to buy up the rest of Atari, and has now
done so for 11 million USD.
SAN FRANCISCO (Thomson Financial) - Infogrames Entertainment S.A. has agreed to acquire Atari Inc. for $11 million, the companies said late Wednesday.
Lyon, France-based Infogrames is currently the majority shareholder in Atari, holding 51.4%.
Under the terms of the agreement, Infogrames will acquire the remaining outstanding equity interests of Atari for $1.68 a share, equivalent to a cash payment of $11 million.
Following the merger, Atari will be a wholly-owned subsidiary of Infogrames.
The deal is expected to close in the third calendar quarter of 2008.
In connection with the transaction, Infogrames has committed to lend Atari $20 million, which will be used to fund Atari's operational cash requirements during the period between the date of the merger agreement and its closing.
Spotted on
Blue's News.
Infogrames to Purchase Atari 
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