Infogrames offers to buy rest of Atari stock
In a rather terse press release, Atari announced it has a received an offer from Infogrames to buy the "outstanding common stock" of the fledgling company for $1.68 per share. Atari's stock closed at $1.66 yesterday but jumped to $1.77 this morning.
The move by Infogrames, already the majority shareholder in Atari, is hardly surprising. In a video interview this week, new Directeur Général Délégué Phil Harrison said, "The Atari opportunity, is the best opportunity that exists in the industry today to redefine, refocus and re-energize an incredible brand." Atari stated in the press release that it intends to evaluate the proposition, which in our minds entails the Board of Directors all working together to make a "Thank You Infogrames" card with macaroni and sprinkles.
