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| Electronic Arts to Acquire Digital Illusions Electronic Arts Inc. and Digital Illusions announces plans for EA to complete its acquisition of Digital Illusions CE (DICE). The companies have unanimously agreed to a merger proposal through which EA will acquire the remaining outstanding shares of DICE, effectively making DICE a fully integrated studio within EA. In connection with the merger, DICE shareholders will receive SEK 67.50 per share in cash, representing a premium of 30% to DICE's closing price on March 16, 2006. EA currently owns approximately 68 percent of the shares of DICE. EA also holds warrants, which entitle EA to purchase an additional 2.3 million shares. On a fully diluted basis, EA owns approximately 74 percent of the outstanding capital and votes in DICE. The merger is subject to approval by a 2/3 majority vote of shares at the Annual General Shareholders Meeting of DICE, which is scheduled for May 24, 2006. The merger is subject to customary closing conditions and is anticipated to close in September 2006. write your comments about the article :: © 2006 Game News :: home page |