SCi Entertainment turns down proposal from ‘mystery’ suitor

Yesterday we reported that Eidos Interactive‘s parent company, SCi Entertainment, confirmed that it was open for business. Today, we got an update on this matter. Apparently, the company just rejected an offer from a mystery suitor. Read more on this in the full article.

We reported earlier that SCi Entertainment, the parent company of Eidos Interactive, announced that it was open for business offers which it would implement in the future.

Today, we got an update on the company. It has just been announced that it just turned down a proposal from one of its “mystery suitors”.

This particular proposal had an offer with a significant premium, reports added. Even if this was the case, the company did not budge. In fact, SCi issued an official statement regarding it. We lifted a noteworthy sentence from the letter:

The board considers, amongst other things, that the proposal does not represent sufficient value and that, given the group’s significant short- to medium-term funding requirements.

The pursuit of an uncertain takeover proposal with consequent delay and risks to the company’s proposed issuance of new equity to fund the execution of its revised strategic plan would not be in the best interests of the company or its shareholders.

If you guys want to read more on what the company had to say regarding this move they just made, you do so by visiting the source link below. Don’t forget to check up on our site for more updates.

Via Next-Gen