Atari asks for Infogrames deadline extension

Game company Infogrames seems keen on its offered to buy out industry stalwart Atari. Last week, the parent company gave the longtime publisher a deadline to make up its mind. Atari, however, says it needs more time to decide on its future. Discover the details of this move when you read the full article after the jump.

Last week, we reported to you that game company Infogrames has offered to buy out all outstanding shares of its subsidiary Atari at US$ 1.68 per share. Atari was given a deadline, but the longtime publisher now says it needs an extension.

To evaluate Infogrames’ offer, Atari has employed the services of Duff & Phelps LLC, a financial advisor specializing in such deals. Atari wants to review all possible options before sealing the deal with its parent company.

Atari is recognized as one of the cornerstones of video game history, spanning more than 30 years of service to the industry and bringing gamers such pieces as the legendary Atari 2600 console and a multitude of classic software releases. In recent years, however, it has run into fiscal woes with its games failing to bring in much-needed profits.

Via Games Industry