SCi shares plummet
Eidos parent company's stock falls to an 18-year low after takeover talks end.
Yesterday, SCi Entertainment ended a second round of takeover talks, a process which it originally disclosed back in September 2007. Following speculation that the company would be bought by publishers such as Ubisoft, Time Warner, and Electronic Arts, SCi issued the following statement: "The board no longer believes that a sale of the company for its full value is likely to be achieved at the current time."
The company also announced that it would be posting a loss in 2008, due to the delays suffered by four of its upcoming releases including Tomb Raider: Underworld.
Bloomberg reported earlier today that the company's shares plummeted to their lowest level in almost 18 years following the news, down 61 percent to 52 pence a share. The overall market value of the company was slashed to £65 million (approx $130 million). At time of writing, the share price had recovered slightly, to 61 pence after peaking at 75 pence earlier in the morning.
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