Gaming merger: Infogrames to finally buy Atari

Infogrames Entertainment and Atari today announced that they finally reached an agreement to merge the two interactive entertainment companies. Infogrames is already the majority shareholder gaming pioneer Atari. The merger agreement now brings Atari fully under the control of Infogrames.
Under the terms of the merger agreement, Infogrames will acquire the remaining outstanding equity interests of Atari (other than shares of common stock held by Infogrames or its affiliates, which would be cancelled) for US$1.68 per share, equivalent to a cash payment of approximately US$11 million.
Holding over 51% Infogrames is currently the majority shareholder in Atari. Following the merger, Atari will be a wholly owned subsidiary of Infogrames.

The merger will be funded by Infogrames from existing cash resources.

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