About Judy

As WP's senior editor, I edit review and preview articles, attempt to keep up with the frantic pace of Rainier's news posts, and keep our reviewers on deadline, which is akin to herding cats. When I have a moment to myself and don't have my nose in a book, I like to play action/RPG, adventure and platforming games...

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Electronic Arts Finally Acquires 'Battlefield' Developer DICE

by Judy on Jan. 25, 2005 @ 2:00 a.m. PST

Well you can't say they did not put up a fight, or at least, played hard to get. Electronic Arts today announced the completion of its offer to the shareholders of Digital Illusions CE (DICE). The acceptance period for EA's offer to the shareholders of DICE, made on November 15, 2004, expired on January 20, and shareholders have accepted EA's offer.

This corresponds to 32.0% of the outstanding capital and votes in DICE. In addition to the above-mentioned offer, EA has acquired 898,264 shares in the market corresponding to 8.9% of the capital and votes in DICE.

Together with the 18.9% of the outstanding capital and votes already held by EA, EA now holds a total of 6,044,720 shares, a controlling interest representing 59.8% of the outstanding capital and votes in DICE. Additionally, EA holds warrants in DICE priced at SEK 47.23 which, if exercised, would bring EA's holdings to 67.3% of DICE shares. EA has not yet declared its intentions on whether those warrants will be exercised.

EA declares that the conditions for the tender offer have been fulfilled. Payment of the offer price to shareholders who have tendered their shares pursuant to the offer will commence and the transaction will be completed on or about January 27, 2005. EA reserves the right to acquire additional shares in DICE in the market.

EA has also acquired the 1,500 warrants previously held by an individual in Canada. EA now controls all the 2,329,102 outstanding warrants in Digital Illusions. Each warrant entitles EA to subscribe for one Series A share.

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