Hit #42

Eidos (EIDSY) announced that is going with the offer from SCi. This offer translates to a cash offer of around $1.3/share, since SCi is listed on LSE but not any US exchanges.

Elevation Partners, which made the earlier/lower offer won't be making another one.

This offer represents a discount of 17% over my cost of $1.55/share. With a brand like Lara Croft Tomb Raider, I thought $1.55/share was a steal! The shares slid all the way to around 70 cents before recovering after the takeover offers.

The deal still doesn't make sense. Why didn't management fight for a better offer ?

While on games, watch out for more buyouts. Potential targets include Atari (ATAR), Activision (ATVI), THQ (THQI), Jamdat Mobile (JMDT), Midway (MWY), Radica Games (RADA) and Tom Online (TOMO). I don't see any of them as independent entities 3 years from now.

I own Atari, Midway stock.