Tomb Raider firm SCI bid approaches

Shares in biggest video game company SCI Entertainment Group surged almost 30 per cent yesterday after it said it had received approaches from various parties which may lead to a bid for the company.

Shares in SCI were up 28.5 per cent at 615 pence by 0808 GMT, valuing the company at around £443 million.

Newspaper reports said the approaches had come from US video game publisher Midway Games Inc., Electronic Arts Inc, the world's largest games maker, and private equity house Apax Partners.

A spokesman for SCI declined to comment.

SCI last month posted a smaller than expected nine-month pretax loss of £14 million and said it had made a positive start to the 2005/2006 financial year with a strong release schedule of new products such as a new version of Lego Star Wars.

Earlier this year SCI acquired game maker Eidos, most famous for its Tomb Raider games, and said it hoped to return it to profitability in 2006.

SCI said a further update would be issued when appropriate.