Electronic Arts Completes
Tender Offer for Digital Illusions with 59.8 Percent Ownership
announces that EA's quest to acquire Swedish developer Digital Illusions CE
(DICE) is about complete:
REDWOOD CITY, Calif. & STOCKHOLM,
Sweden--(BUSINESS WIRE)--Jan. 25, 2005--Electronic Arts EA Holding AB ("EA")
today announced the completion of its offer to the shareholders of Digital
Illusions CE AB (publ) ("DICE").
The acceptance period for EA's offer to the shareholders of DICE, made on
November 15, 2004, expired on January 20. Shareholders with a total of 3,235,053
shares in DICE(1), including Bonnier & Bonnier AB and DICE employees with
significant shareholdings, have accepted EA's offer. This corresponds to 32.0%
of the outstanding capital and votes in DICE. In addition to the above-mentioned
offer, EA has acquired 898,264 shares in the market corresponding to 8.9% of the
capital and votes in DICE.
Together with the 18.9% of the outstanding capital and votes already held by EA,
EA now holds a total of 6,044,720 shares, a controlling interest representing
59.8% of the outstanding capital and votes in DICE. Additionally, EA holds
warrants in DICE priced at SEK 47.23 which, if exercised, would bring EA's
holdings to 67.3% of DICE shares. EA has not yet declared its intentions on
whether those warrants will be exercised.
EA declares that the conditions for the tender offer have been fulfilled.
Payment of the offer price to shareholders who have tendered their shares
pursuant to the offer will commence and the transaction will be completed on or
about January 27, 2005.