The SCi Group Attracts Buyers News
Gwynne Dixon
24/09/2007
As expected, Time Warner has approached the SCi Group for a possible buy-out alongside two others...
The SCi Group, parent company of Britian's biggest games firm Eidos, has received three bids for a possible buy-out according to The Times. The bids have come from French games publisher Ubisoft, Time Warner (who already have a 10% stake in the company) and an undisclosed Chinese company.
SCi revealed that it had been approached by an unnamed company for a buy-out earlier this month. It is now clear that Ubisoft had made this original 'extremely preliminary' offer, while Time Warner and the undisclosed Chinese company's offers have followed since.
Time Warner's 10% stake in the SCi Group puts the media conglomerate in a very good position for a possible bidding war with other buyers. Meanwhile, buy-out speculation surrounding SCi has been beneficial for the company on the stock exchange as its shares took a 5% rise on Friday, valuing the firm at £300 million.