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Article: Midway Games Inc. Comments On Tender Offer by IG Holdings, Inc.
- Article from:
- Business Wire
- Article date:
- February 11, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO--(BUSINESS WIRE)--Feb. 9, 1999--Midway Games Inc. (NYSE: MWY) reported that it has become aware of an unsolicited tender by IG Holdings, Inc. to purchase up to two percent (2%) of the Company's shares outstanding.
The Company became aware of the purported tender offer when a broker called to inquire about it. Based on information obtained by Midway Games, IG Holdings allegedly commenced a tender offer for Midway Games shares on January 28, 1999, at a price of $7.00 per share, less any distributions paid on or after December 1, 1998, which, according to IG Holdings, may not represent the fair market value of the shares. IG Holdings is in no way ...