Majority Sharehholder Infogrames Buys Rest of Atari For $11 Million


Not that this is a surprise: Atari’s biggest shareholder Infogrames, the French video games company, has bought the struggling company after its non-binding offer earlier in March. The cost for the rest of 49.6 percent: $11 million…Infogrames already held 51.4 percent. The merger will be funded by Infogrames from existing cash resources. The transaction is expected to close in Q3 of 2008. As part of the deal, Infogrames will also lend Atari $20 million, which will be used to fund the company on a day-to-day basis until the acquisitions closes. More details here.

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