NEWS - Tuesday, December 21, 2004

EA Revaluate DICE Agreement

Having hit the proverbial wall in the shape of a group of shareholders opposed to the planned takeover of Digital Illusions by Electronic Arts, the US publisher today announced that it has revaluated the details of the proposed acquisition. Instead of requiring 90% of shareholders to agree to the take-over, Electronic Arts will now seek 50% approval; although it seems that the agreement has not been confirmed just of yet. Having already held an 18.9% stake in Digital Illusions, EA have acquired an additional 25.6% of shares, which takes them close to the 50% needed but still somewhere short to meet the demands of the agreement. With the original date of December 16th passed, EA have announced a new deadline of January 20th 2005 to conclude the arrangement. We’ll have more information soon.


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