Infogrames offers to buy rest of Atari stock

15 Comments by Ross Miller Mar 7th 2008 3:30PM
Filed under: Business

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.

Tags: atari, infogrames

(Page 1) Reader Comments

NATO_Duke: Mar 7th 2008; 3:34PM

Go get em tiger!

Ieatbrains: Mar 7th 2008; 3:34PM

Infogrames should put their money in developing a new North & South instead than buying a cursed brand.

Fernando Rocker: Mar 7th 2008; 3:36PM

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.

=(

Curtis the Claw Game Master V2: Mar 7th 2008; 3:41PM

I wouldn't invest in Atari just yet, wait until their stock has an upward trend (if it does).

Mike: Mar 7th 2008; 3:47PM

"Fledgling" is probably the last word anyone should use to describe Atari, one of the oldest companies in the business. "Floundering" or "flailing" perhaps?

bobartig: Mar 7th 2008; 11:51PM

Quite true. I'm guessing Joystiq hit the wrong button on their automatic thesaurus or something.

Besides, every long-term Apple fan knows that the correct term is beleaguered.

Organic_Shadow: Mar 7th 2008; 4:27PM

Oooooh, I see what you did there. It's like the black line is all wrapped around the Atari logos. Well dad-gum...

Ryan LN: Mar 7th 2008; 4:46PM

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.

Tre: Mar 7th 2008; 7:06PM

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.

gregory mitchell: Mar 7th 2008; 7:24PM

aw man i grew up with atari but damnit you gotta know when to say when....

Meep: Mar 8th 2008; 6:49AM

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?

Tridus: Mar 8th 2008; 8:35AM

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.

Deuxhero: Mar 8th 2008; 10:18AM

Huh? I thought Infogames bought out atari a long time ago.

ZeroCorpse: Mar 8th 2008; 1:48PM

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.

KC: Mar 10th 2008; 12:14PM

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

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