(03-22-2005) Bono bid lifts Eidos shares - Reuters UK*

[HelloAngel]

Bono bid lifts Eidos shares


LONDON (Reuters) - Shares of Eidos surged 14 percent on Tuesday after a U.S. private equity group that includes rock band U2 frontman Bono agreed to buy the British video games maker for 71 million pounds cash.

Shares of Eidos, behind the Tomb Raider and Hitman games, reached 51 pence at 0847 GMT, higher than the 50p buyout offer. Shares sometimes trade higher than an agreed takeover price when investors speculate there could be a rival bid approach.

The U.S. private equity group Elevation Partners, which counts Bono and former Electronic Arts president John Riccitiello as partners, offered a 27 percent premium to where Eidos shares were trading on March 18, the last business day prior to the announcement.

The shares hit a 10-year low on March 10 as delays to key new titles, tough terms on a bank loan and a first-half loss outweighed the market's speculation about a takeover approach.

© Reuters 2005. All Rights Reserved.

http://www.reuters.co.uk/newsArticl...=7968958&section=news&src=rss/uk/internetNews

 

[yimou]

The hitman games are developed in Denmark, and it was in the news that Bono had been in Copenhagen to visit the IO interactive studios a few weeks ago.

The studio is about five minutes walk from where i live, so it pisses me off that i didn´t knew Bono would drop in for a visit.

 

[Mullen4Prez]

^ thats sucks man.

 

[colinmchapman]

Huh. What is it with Tomb Raider and the band. I bet Adam has a thing for Lara Croft.

 

[MissMoo]

I hope it works out for them. My husband is in the industry and it's pretty well known that there is a slump going on that they expect to last until 2008.

 

[wizard2c]

reply

Hi!

Read this morning that another company put a higher bid in to takeover.

Doesn't Mr.B have enough of things going on already? Fashion and now gaming, what next? Perhaps another CD?

Oh well, tis not my business anyway.
If I could have taken over anything it would have been Furby.....but good news on the horizon....Furby II will be here in the Fall. They are so talented...they can sing and dance and interact with people......{not U2...I'm speaking of Furby here} LOL

carol
wizard2c