Eidos rejects the bid from Elevation corporation

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The Guardian newspaper today reported that Eidos executives have decided to reject the bid for the company made by Elevation corporation, as reported in Games Digest last week. SCi, which is making a competing bid for Eidos in stock rather than cash, confirmed that it received enough support from the board, at least temporarily, to reject the bid. SCi has stated that it is ‘confident’ that it will have more support by the end of the week. If the smaller company SCi win the bid, Eidos can expect to see some radical restructuring of their company. The bids range from 50p per share from Elevation and 53.6p from SCi. Eidos used to be worth over 10 pounds a share, during the dotcom boom. How fortunes change, hunh.

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