Atari Enlists Advisor for Infogrames Proposal

[Ghostbear]

From Next Gen (http://www.next-gen.biz/index.php?option=com_content&task=view&id=9528&Itemid=2)

A special committee of Atari's board of directors has retained Duff & Phelps, LLC as its financial advisor to evaluate Lyon, France-based Infogrames' proposal.

Infogrames, which already owns a majority stake in Atari, proposed to buy the remaining Atari shares for $1.68 cents each in cash.

Seems a bit weird, I didn't realize Infogrames had so much money.

[karak]

Maybe they are just making sure that NO questions can be asked when they(both) are "suddenly" bought by Sony later this year.

[lost]

Is this normal? Don't they have any of their own financial dudes to help with this?

Atari is in a shit-state. I thought it was just the operating name for Infogrames. They are trying to do the THQ thing half-assed and it isn't working.

[Klade]

Infogames probably doesn't have enough money. What they do is go to banks and borrow against the future collateral of Atari. That way they can afford to pay a lot more. As to why Atari brought in an expert. They need to make sure their shareholders are not given an opportunity to sue for a breach of fiduciary duty. So they bring in an outside expert that says the deal is ok and they can then rely on that. Basically its a way for them to cover their ass.

[Itchyeyes]

Seems a bit weird, I didn't realize Infogrames had so much money.
They don't have to. Just like you don't have to have enough cash to buy a house outright. They finance it through banks. A lot of corporate acquisitions and mergers are done that way.

[Serapth]

Is this normal? Don't they have any of their own financial dudes to help with this?

Atari is in a shit-state. I thought it was just the operating name for Infogrames. They are trying to do the THQ thing half-assed and it isn't working.

Yes, its pretty normal. The company I work(ed?) for hired on specialists for finding funding/buyers.

[Sandman]

Didn't someone just start working for Atari and didn't I say it was like jumping to Alderaan right before the death star fired on it? Yeah......

[beefyjr]

Infogrames needs to fucking drop the Atari name. Outside of retro games collections, it isn't worth the paper it's printed on. Doing business as Infogrames again would be a good way to start fresh with a clean slate, especially with Alone in the Dark coming out this year.

[Serapth]

Infogrames needs to fucking drop the Atari name. Outside of retro games collections, it isn't worth the paper it's printed on. Doing business as Infogrames again would be a good way to start fresh with a clean slate, especially with Alone in the Dark coming out this year.

Infogrames name is mud too though. Just about any name ( that isnt Gamecock ) would probrably be better for them

[fitbabits]

Didn't someone just start working for Atari and didn't I say it was like jumping to Alderaan right before the death star fired on it? Yeah......

You're thinking of Phil Harrison! Maybe he's buying both Atari and Infogrames?