Infogrames offers to buy Atari Inc.
Confused? Take our hand.
Atari Inc. has announced that it received a letter from Infogrames Entertainment S.A., the company's majority shareholder, expressing its intent to acquire the remaining outstanding stock of the company, GamesIndustry.biz reports.
Infogrames' offer, which is non-binding, amounts to USD 1.68 per share for the Atari Inc. stock it does not own.
Atari Inc. said that a special committee of the company's board of directors intends to undertake, together with its advisors, a thorough evaluation of the proposal.
There is no assurance that any transaction will occur or to the terms of any transaction.
But hang on, you're saying, aren't Atari and Infogrames the same thing? Atari Inc. is actually the US company, leasing the name from Infogrames, which operates the likes of Atari Europe. To better understand the companies' convoluted relationships, check out our History of Atari feature.
Infogrames/Atari made headlines this week after former Sony Worldwide Studios boss Phil Harrison was confirmed as the French company's new president.