EA Re-rolls DICE Deal

EA Holding AB Changes Condition of Its Offer to the Shareholders of Digital Illusions (thanks Frans) has what seems to be a follow-up on reports that EA's bid to acquire Swedish developer Digital Illusions CE (DICE) would be rejected (story). The story reports the acceptance period for the original offer has expired without EA getting their targeted percentage of the outstanding DICE stock, resulting in a change to the offer:
As a result, the offer has not yet been accepted to such an extent that EA has become the owner of more than 90% of the total number of shares representing more than 90 percent of the votes in DICE, which was a condition for the implementation for the offer.

EA today changes the condition above and conditions the offer upon an acceptance level through which EA would become the owner of more than 50% of the total number of shares representing more than 50% of the capital and votes in DICE after dilution upon exercise of employee warrants outstanding under the option program launched in 2002. As a consequence of this, the acceptance period is extended to January 20, 2005.
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Re: Awful syntax
Dec 20, 2004, 14:34
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Re: Awful syntax Dec 20, 2004, 14:34
Dec 20, 2004, 14:34
 
Who the hell wrote this deal?

EA and whoever owns DICE (either management or the VCs, I don't know enough about DICE to say). More specifically, their respective lawyers.

In order for EA to change the terms, however, DICE's owners (see above) would have to agree. The more I think about it, the more I'm sure that, one way or another, it's going through. Odds are EA already has enough shares right now to go through with it -- the management/VC shares should be enough alone. They've already decided to sell the company, and that the employees are being reluctant is irrelevant to them.

If anyone at DICE reads this and could shed light upon the situation, it'd be nice.

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  Re: Awful syntax
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 LOL