Infogrames says SCi rejected takeover offer
PARIS, April 28
PARIS, April 28 (Reuters) - French video games maker Infogrames IFOE.PA said on Monday it had made a nonbinding offer for SCi Entertainment SEG.L but had been rejected by the Lara Croft creator.
"Infogrames presented the SCi board with a detailed indicative offer ... The SCi Board has declined, at this stage, to entertain Infogrames' offer," the French company said in a statement. Infogrames gave no financial details but said it had "sufficient resources to satisfy the cash element of its indicative offer."
SCi shares closed 2.1 percent higher at 48 pence in London, giving the company a market capitalisation of 78.8 million pounds ($156.4 million).
Shares of SCi, which created the heroine of the Tomb Raider games, sank to a five-year low after reporting in February that it needed 50 million pounds to survive, after the cost of scrapping a series of ill-conceived computer games.
Last week, SCi said it had raised 60 million pounds as property tycoon Robert Tchenguiz and media group Warner Bros (TWX.N) bought big chunks of a share placing. (Reporting by Marie Maitre; editing by John Wallace)