Elevation partners an investment group which includes such notables as ex-president of Electronic Arts, John Riccitiello, and U2 crooner Bono, says it has reched an agreement to buy up Eidos, maker of the successful Tomb Raider series of games.

At a price of 50p per share – around 27 per cent above the market price of 37p - the deal is worth around £71.0 million ($136.3 million) a statement says. The shares scrabbled up to 52p this morning.

Eidos’ advisor, the UBS Investment Bank, suggested the directors recommend the offer to the company shareholders.

Chairman of the Eidos, John van Kuffeler, said the offer would, "bring to an end the uncertainty which the company, its shareholders and employees have endured during recent months." The board, he said, "firmly believes that shareholders' interests are best served by a sale of the company."


Source : TheInquirer