EA tries to revive DICE takeover

Electronic Arts today said that attempts to buy Digital Illusions CE, the Stockholm-based developer of the successful Battlefield franchise, are slowly moving toward a positive outcome. EA said it had picked up some important support among existing shareholders. The second largest DICE shareholder, Bonnier & Bonnier AB, has accepted EA's offer to acquire the developer, according to an EA statement.

In addition to that news, EA said it would extend the offer period by about a month, to January 20, 2005.

Clarifying its position, EA said in a statement that the Bonnier & Bonnier vote "corresponds to 25.6 percent of outstanding capital and votes in DICE." Combined with the 18.9 percent of outstanding capital and votes currently held by EA, "this would give EA today control of 4,498,697 shares, representing 44.5 percent of the outstanding capital and votes in DICE," the publisher said.

As previously reported, EA still needs the approval of parties controlling, at minimum, 90 percent of DICE's voting shares for the acquisition to take place.