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Broderbund Shares Rise on News of Sale Talks

June 03, 1998|Bloomberg News

Broderbund Software Inc. shares rose 8% after a trade publication reported the struggling entertainment-software maker may be bought by Hasbro Inc. or another software company. Broderbund shares rose $1.25 to close at $16.75 on Nasdaq. On Monday, the stock closed at $15.50, its lowest price in more than five years, in a broad tech sell-off. The Novato-based company, which created the best-selling "Myst" game, has seen its stock slide 38% in the last year as it has struggled to repeat that success. Analysts have viewed Broderbund as a logical takeover candidate for companies ranging from rival GT Interactive Software Corp. to toy maker Hasbro. CMP Media Inc.'s Computer Retail Week said Broderbund was in a series of talks with Hasbro. The publication said that it appears Broderbund is courting several suitors.

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