Atari needs more time to consider proposal from Infogrames Entertainment

By Lisa Kerner

Charlotte, N.C., March 12 - Atari, Inc.'s special committee retained Duff & Phelps, LLC to assist in the evaluation of Infogrames Entertainment SA's proposal to acquire the company for $1.68 cash per share.

As a result, the special committee was not able to respond to Infogrames by March 11 as requested, according to a company news release.

On March 7, Atari announced it had received a non-binding expression of intent from its majority shareholder, Infogrames Entertainment, to acquire all of Atari's outstanding common stock that it does not already own.

It was previously reported that the offer is not contingent on any financing conditions.

Atari is a New York-based interactive entertainment software company.

Lyon, France-based Infogrames is the parent company of Atari and Atari Europe.

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