A roundup of today's pther stories in brief.
Bono's firm in $620m video game deal
Elevation Partners, the private equity firm backed by U2 singer Bono, has sold the two video game developers which were its first investment to Electronic Arts in a $620 million (€437.38 million) deal.
Elevation brought together video game producers Pandemic Studios and Bioware in a $300 million deal in 2005.
Electronic Arts, the world's largest video game publisher, is particularly strong in the market for sports games but the acquisition will boost its share in the action-adventure and role-playing markets, which account for about 36 per cent of the industry's $10.4 billion annual US sales.
Severstal bid too low, says Celtic
Irish-registered mining group Celtic Resources yesterday urged shareholders to take no action with regard to Severstal's proposed 270 pence a share bid for the company, saying it significantly undervalues the group's assets and potential.
In a letter to shareholders, Celtic chairman Peter Hannen said the offer failed to recognise the company's excellent strategic position, planned growth in production against a background of a high and rising oil price and its cash- rich balance sheet.
Department faces legal bill of €3.5m
The Department of Agriculture faces a bill of more than €3.5 million in damages and legal costs for the final stage of a 17-year legal battle arising from its actions towards a meat trading company.
A High Court judge observed yesterday that the department's actions had had a "catastrophic effect" on the company's business.
Mr Justice Kevin Feeney, who last week awarded €2.5 million damages to Emerald Meats against the department, yesterday also awarded legal costs - estimated at more than €1 million - to Emerald against the department.
Slight fall in industrial output
Industrial output fell back slightly in August following the surge seen in July, but growth remained healthy, new figures from the Central Statistics Office show. When compared with July, industrial production in August slipped 4.2 per cent, though on an annualised basis it grew by 10.1 per cent.
The main growth in activity was in the high-technology and chemical sectors.
State to admit non EEA researchers
Enterprise Minister Micheál Martin yesterday announced new arrangements that will enable qualified researchers from outside the European Economic Area to work in Ireland without the need for a green card or work permit.
Mr Martin said the new set-up was in line with an EU directive and was necessary if Ireland was to achieve its objective of being internationally renowned for research and at the forefront in generating new knowledge for economic and social progress.
Oracle in $6.7bn bid for BEA
Database giant Oracle revealed yesterday it had made a $6.7 billion (€4.7 billion) unsolicited offer to buy business software maker BEA Systems, which is under pressure from activist shareholder Carl Icahn to put itself up for sale. - (Reuters)
Enterprise awards shortlist released
EirGen Pharma, Intelligent Faces and StatCounter have been shortlisted in the business category of the David Manley Emerging Entrepreneurs Award, a competition aimed at rewarding enterprise in commerce.
