Silverstar to acquire Empire

NASDAQ-listed company has put in "definite offer" for UK-based Empire Interactive.

Silverstar Holdings Ltd. has made an offer to Empire Interactive that calls for either a cash payment of 7p (approx. $0.13) per share on closing or an earn-out alternative for shareholders. It reported that Empire's two principal shareholders have given irrevocable undertakings to vote their 62 percent shareholdings in favour of the earn-out alternative. The deal is expected to be concluded by the end of November.

Silverstar was originally set up in 1995 as Leisureplanet Holdings before changing its name in 2000. Recently the company has specialised in investing in electronic game and technology businesses, including Strategy First.

Empire Interactive has offices in the UK, France, Germany, and Spain and produced games including Starsky and Hutch, Bad Boys II, and Big Mutha Truckers. It had previously announced that it had entered into "discussions with other parties, which may or may not lead to an offer being made for the Group."

Empire's nonexecutive chairman, Sir Rodney Walker, told UK trade site MCV: "I am pleased to announce this recommended offer for Empire. Given the difficult trading conditions in the games publishing industry and the increasingly uncertain financial condition of the company, the independent directors believe the offer represents the best course of action available for the Empire business, its employees and all of its shareholders."

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Discussion

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_Sam_
_Sam_

it seems like there have been a lot of acquisitions lately

Vash67
Vash67

>_> They released Taito Legends. Even a company like Empire who released crap can be forgiven for bringing Bubble Bobble to the young'uns. And me.

anamnawshad
anamnawshad

Starsky and Hutch, Bad Boys II, and Big Mutha Truckers are very bad games :?

Kravyn81
Kravyn81

It's a hostile takeover! Run!!!! :shock:

comthitnuong
comthitnuong

well they havent released taht many great games

Strike_Zer0
Strike_Zer0

I cracked up laughing when I read "a cash payment of 7p" then I read "per share" and it all made sense XD I can imagine some big buissness man walking in and saying "I would like to make you an offer...how does 7p sound?..."

grasu
grasu

[This message was deleted at the request of the original poster]

grasu
grasu

WHO CARES!?? Why are these guys even get 13 cents per share their games sold 2 copies?