STOCKWATCH: Eidos rises as Infogrames bid comes closer to fruition LONDON (AFX) - Shares in UK games publisher Eidos PLC were up sharply inmorning trading on reports that Infogrames Entertainment SA, a French publisher,had made a 700 pence bid for Eidos. At 10.15 am, Eidos was up 60, or 12.32 pct, at 547, off highs of 570. Observers said the reports that the long-rumoured deal was finally nearingfruition came as little surprise. "Infogrames has been on the record saying that Eidos would be a good fit,"said one analyst. "This is the price I've been quoting for the past couple ofweeks." Today's gains reflects the mood of optimism about a successful deal, hesaid. "When Eidos was at 450, that was pricing in the possibility of a deal. Therise today is about people becoming much more confident that it will come off." The price stood a good chance of sticking unless bidding interest could beworked up from other companies, the analyst said. Some reports have suggested that U.S. publisher Electronic Arts is a likelyalternative bidder, with some analysts suggesting that a 700 pence offer leavesheadroom for EA to come in with a higher bid. "Electronic Arts could be interested," said one. "There was an interviewwith one of their big cheeses a few days ago saying they'd had no talks withEidos. But then again, two weeks ago Infogrames were saying the same thing."
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