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Bizz Buzz - Infogrames Suspended

[Oct 29, 2004, 12:01 pm ET] - Share - Viewing Comments

Infogrames suspended, speculation mounts (thanks Mike Martinez) is a story on the financial wires with word that trading of shares of Infogrames "was delayed on Friday pending a statement from the company," which has "fuelled speculation the debt-burdened firm will either announce a restructuring of its convertible debt or be the target of a takeover bid." Update: HomeLAN Fed points out the story has since been edited to include a response quote from Bruno Bonnell: "Infogrames is not involved in any discussions regarding a friendly or hostile bid on the company." Here's more:

An Infogrames spokeswoman declined to comment, saying a statement was expected later in the day.

Shares in Infogrames have rallied 16.6 percent since Tuesday, but are still down nearly 70 percent this year as investors question the firm's ability to generate enough cash to remain a sector leader.

Infogrames still needs to repay 117.1 million euros in convertible bonds due in 2005 and 124.3 million euros in bonds due in 2009.

Infogrames has repeatedly been the target of rumours it could end up being bought by a large U.S. rival like sector leader Electronic Arts (ERTS.O: Quote, Profile, Research) or by an international media group.

Some traders cited talk Infogrames may bid for British firm Eidos (EID.L: Quote, Profile, Research) , which has said it was in discussions over a possible sale.

But a source close to Infogrames poured cold water on that hypothesis, saying the two firms were not in discussions.

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14.

Re: No subject

Oct 29, 2004, 14:00

L0cky

Well there big games they put out are the Unreal Tournament series, dont think DE/epic will have problems finding a publisher for that Epic already dumped Atari in favour of Midway. Thats why there's a hidden Mortal Kombat character in Unreal Championship 2

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