Hasbro/MicroProse Deal Now a Done Deal

  • By Harley Jebens, GameSpot
  • Posted Sep 15, 1998 4:34 pm PT

The Hasbro purchase of MicroProse moves ahead as Hasbro ponies up the money.

And the buyer is... Hasbro. Or so it seems. We're talking about the oft-rumored-but-never-quite-consummated marrying off of MicroProse (within the past year, both GT Interactive and Infogrames were angling for MicroProse's assets). Hasbro announced Tuesday that it had successfully completed its cash tender offer to purchase all the outstanding shares of MicroProse's common stock and that it and MicroProse were merging.

Hasbro reported that 5,265,263 shares of MicroProse common stock was tendered at US$6 a share amounting to 91 percent of MicroProse's outstanding shares, making MicroProse a wholly owned subsidiary of Hasbro. Hasbro announced that all remaining MicroProse stockholders (other than Hasbro) have the right to receive the same US$6 per share in cash "payable pursuant to the tender offer."

"MicroProse will significantly enhance Hasbro Interactive in three key strategic growth areas: brands and content, R&D assets, and European distribution," said Alan G. Hassenfeld, chairman and CEO of Hasbro.

Tom Dusenberry, president of Hasbro Interactive, added, "MicroProse will provide Hasbro Interactive with product strength in the strategy, simulation, and 3D action game categories, enabling us to compete in virtually all major PC game categories." Hasbro also plans to portMicroProse titles to console platforms.

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