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SCi Rejects Proposal From Mystery Suitor

Next-Gen.Biz reports that Eidos parent company SCi has turned down a proposal relating to a possible offer for the company at a significant premium to its current share price.

"The board considers, amongst other things, that the proposal does not represent sufficient value and that, given the group's significant short- to medium-term funding requirements, the pursuit of an uncertain takeover proposal with consequent delay and risks to the company's proposed issuance of new equity to fund the execution of its revised strategic plan would not be in the best interests of the company or its shareholders," SCi said in a statement issued Wednesday.

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Genesis53652d ago

What and going bankrupt is?