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Merrill Lynch backs SCi in hunt for Eidos

By Johnny Minkley
With Gartmore Investment also pledging an irrevocable of 1.64 per cent earlier today, and main Eidos shareholder Schroder already on board, this takes SCi’s total to 26.3 per cent so far.

“SCi has today received an irrevocable undertaking to accept the Offer from
Merrill Lynch Investment Managers Limited on behalf of Eidos shareholders holding 6,913,003 Eidos shares, representing approximately 4.87 per cent of the issued share capital of Eidos,” the publisher said in a statement.

“The irrevocable undertaking will continue to be binding even if a higher offer is made for Eidos and will cease to be binding only if the Offer lapses or is withdrawn.”

The battle for Eidos is between SCi and US-based private equity firm Elevation Partners, the latter’s bid currently boasting the support of the Eidos management.

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