In a rather terse press release, Atari announced it has a received an offer from Infogrames to buy the "outstanding common stock" of the fledgling company for $1.68 per share. Atari's stock closed at $1.66 yesterday but jumped to $1.77 this morning.
The move by Infogrames, already the majority shareholder in Atari, is hardly surprising. In a video interview this week, new Directeur Général Délégué Phil Harrison said, "The Atari opportunity, is the best opportunity that exists in the industry today to redefine, refocus and re-energize an incredible brand." Atari stated in the press release that it intends to evaluate the proposition, which in our minds entails the Board of Directors all working together to make a "Thank You Infogrames" card with macaroni and sprinkles.
Reader Comments (15)
Posted: Mar 7th 2008 3:36PM (Unverified) said
That's a very cheap price per stock. I wonder if its worthed to invest in some stocks, like $1,000.
I always wanted to invest some money from my savings, but I don't think Atari is going to work.
=(
Reply
I always wanted to invest some money from my savings, but I don't think Atari is going to work.
=(
Posted: Mar 7th 2008 3:41PM (Unverified) said
I wouldn't invest in Atari just yet, wait until their stock has an upward trend (if it does).
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Posted: Mar 7th 2008 3:47PM Ricky Bango said
"Fledgling" is probably the last word anyone should use to describe Atari, one of the oldest companies in the business. "Floundering" or "flailing" perhaps?
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Posted: Mar 7th 2008 4:27PM (Unverified) said
Oooooh, I see what you did there. It's like the black line is all wrapped around the Atari logos. Well dad-gum...
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Posted: Mar 7th 2008 4:46PM RyanLN said
Here's what I don't understand: while no one can argue against Atari's place in the pantheon of video game companies, they really haven't been relevant for over 20 years. It would be like your favorite football team signing John Elway circa 2001, rather than the Elway of 1983. The day Atari contributes something meaningful to our beloved pastime other than bittersweet memories of blisters and unresponsive joysticks will be the day I bake my iphone into a creme brûlée and eat it with a dainty spoon. Wake me in 2023.
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Posted: Mar 7th 2008 7:06PM (Unverified) said
haHA! Macaroni thank you card!
I see what you did there!
And on topic, I can't see how Atari could say no to this. They're, as Mike said, failing, floundering, flailing.
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I see what you did there!
And on topic, I can't see how Atari could say no to this. They're, as Mike said, failing, floundering, flailing.
Posted: Mar 7th 2008 7:24PM (Unverified) said
aw man i grew up with atari but damnit you gotta know when to say when....
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Posted: Mar 8th 2008 6:49AM (Unverified) said
Hang on which Atari are we talking abount here as Atari Inc is just infogrames using the Atari name. There is a company called Atari Interactive which licenes the Atari name to Atari Inc but even they are part of Infogrames.
Could some one clear this up please?
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Could some one clear this up please?
Posted: Mar 8th 2008 8:35AM Tridus said
Atari is a publically traded company. Infograms already owns a majority interest (IE they control Atari), but they're offering to buy out the other shareholders and take the company private.
And I'm not sure what planet they're on, Atari is about as valuable a brand today as Netscape.
Reply
And I'm not sure what planet they're on, Atari is about as valuable a brand today as Netscape.
Posted: Mar 8th 2008 10:18AM (Unverified) said
Huh? I thought Infogames bought out atari a long time ago.
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Posted: Mar 8th 2008 1:48PM ZeroCorpse said
Geez. At this point, it's pretty much just paying to get the Atari name. I don't think the company actually has anything else of value these days.
Honestly, I wonder if they could afford to spring for macaroni and sprinkles.
Reply
Honestly, I wonder if they could afford to spring for macaroni and sprinkles.
Posted: Mar 10th 2008 12:14PM KC said
I could see this playing out sort of like the whole 'new AT&T' thing in the States...
SBC buys out shell of a company that was once the mighty AT&T...
Subsequently SBC changes their name to AT&T and bids on Bell South, kills Cingular brand and rebuilds part of old AT&T empire.
Maybe Phil wants to follow this model with Atari... after all, as little as Atari is worth today as a company, the name still resonates with billions more people worldwide then Infogrames
Reply
SBC buys out shell of a company that was once the mighty AT&T...
Subsequently SBC changes their name to AT&T and bids on Bell South, kills Cingular brand and rebuilds part of old AT&T empire.
Maybe Phil wants to follow this model with Atari... after all, as little as Atari is worth today as a company, the name still resonates with billions more people worldwide then Infogrames
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