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The Guardian - UK
The Guardian - UK
Business
Nick Fletcher

Takeover talk stalks Lara Croft

Tomb Raider creator SCi Entertainment has had more bid approaches than Lara Croft has had adventures. And its shares are up again on renewed takeover speculation.

Talk is of an 80p a share offer, which would certainly be good news for entrepreneur Robert Tchenguiz who has seen his stake in the business fall sharply.

At the end of February the company said it needed to raise £50m after the costs of scrapping a number of computer games and making an £80m half year loss. Potential bidders include Time Warner - which bought a 10% stake in the business for 504p a year ago - and French groups Infogrames and Ubisoft.

SCi is now 7.25p higher at 57.5p.

Meanwhile the US job numbers have come and gone with little effect so far. As predicted they came in worse than expected - an 80,000 rather than 60,000 drop - and last month's figures were revised down.

Still, the FTSE 100 has managed to hold onto its gains despite an early dip on Wall Street, and is now 30.4 points higher at 5921.7.

Martin Slaney at GFT said: "The recessionary trend is there for all to see with worse-than-expected figures, but the market was braced for bad news and seems to be holding up well.

"This certainly ups the odds of another fifty basis point cut at the next Fed meeting so that is providing us with some support. The key issue will be whether we start to see the cuts in the Fed Funds rate filter through to the interbank money markets; until it does the tightness in credit will remain. "

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