Shareholders Reject Electronic Arts' Buyout Offer for "Battlefield" Developer

Authored by Mark Hefflinger on December 17, 2004 - 9:16am.

Stockholm, Sweden -- Video game publisher Electronic Arts, which last month offered to purchase Swedish "Battlefield" developer Digital Illusions CE (DICE), saw its plans stymied this week when 29% of DICE shareholders voted against the deal. The vote came despite the recommendation from DICE's board of directors to approve it; 90% must agree to the deal for it to proceed. Redwood City, Calif.-based Electronic Arts currently owns 19% of DICE, which it purchased in 2003 when it signed a 15-year publishing deal with the company. In addition to DICE's 4 million unit-selling "Battlefield" titles, it also is responsible for the "Rallisport Challenge" game franchise. The deadline for EA to reach a deal to purchase Digital Illusions is Dec. 27.
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