Infogrames Finally Buys Atari

Infogrames Entertainment S.A. has bitten the bullet and forked out $11 million (£5.5m) to buy the remaining available stock in Atari.

According to Hemscott, "Under the terms of the agreement, Infogrames will acquire the remaining outstanding equity interests of Atari for $1.68 (84p) a share, equivalent to a cash payment of $11 million.

"Following the merger, Atari will be a wholly-owned subsidiary of Infogrames.

"In connection with the transaction, Infogrames has committed to lend Atari $20 million, which will be used to fund Atari's operational cash requirements during the period between the date of the merger agreement and its closing."

^{Source: Hemscott}