News: Eidos Takeover Heats Up

The head of Elevation Partners, Sci's rival for the takeover of UK publisher Eidos, has hit out at his opponents.

John Riccitiello, boss of Elevation and former EA president, has attacked SCi's plans to acquire Eidos, highlighting their inexperience at running a large games publisher and producing top quality games. In the statement, Elevation also warn that SCi's proposed �60 million funding would be an inadequate amount, and note the risk in SCi's stock offer. Instead, Mr Riccitiello encouraged Eidos to take the offer proposed by Elevation Partners, also known as EM Holdings.

"While SCi is a successful company, it has little experience of integrating larger businesses, of running a major international video games company or in managing significant intellectual properties," he said. "By contrast, EM Holding's [Elevation Partner's] cash offer provides certainty for Eidos shareholders. "EM Holdings' cash offer has no share price or integration risks and offers Eidos shareholders 50 pence in cash with absolute certainty."

This statement is reportedly in reaction to growing support for SCi's offer amongst Eidos shareholders. We'll keep you updated on the fight for the publisher.


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