Infogrames interested in Atari acquisition

By Lisa Kerner

Charlotte, N.C., March 7 - Atari, Inc. received a non-binding expression of intent from its majority shareholder, Infogrames Entertainment SA, to acquire the company for $1.68 cash per share.

A special committee of Atari's board of directors will evaluate the proposal, according to a company news release.

In its proposal letter, Infogrames said the offer is not contingent on any financing conditions and the company requires a limited amount of due diligence. The letter was included as part of a form 8-K filing with the Securities and Exchange Commission.

Infogrames chief executive officer David Gardner asked Atari for a response by 5 p.m. on Tuesday.

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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