SCi withdraws stock 'standstill' on Warner Bros
Permission granted to entertainment giant to resume acquisition of videogame publisher's shares on December 1
SCi has announced that it is amending its 'standstill' agreement with Warner Brothers, to allow the entertainment giant to resume acquisitions of its stock from December 1.
The 'standstill' agreement had prohibited the Warner Bros from purchasing anymore shares of SCi until January 25, however, now trading is be resumed this December so long as the acquired number of shares doesn't reach 30 per cent, or over, of the total amount.
Warner Bros recently increased its shareholding in SCi by 5 million shares to take a 16.1 per cent stake in the publisher and sparked recent speculation that an acquisition bid was impending.