Titus today announced that it has taken majority control of the US-based Interplay Entertainment Corp.
French publisher Titus previously owned 34% of Interplay's outstanding stock and recently exchanged 336,070 bonds for 6.68 Million shares of Interplay. This gave Titus the additional 17% it needed for control of the company.
"This purchase raises Titus Interactive's voting rights and will enable, during the annual general meeting in September, a reelection of the board and a takeover of Interplay by Titus Interactive," states Titus Interactive.
Interplay has not commented, so we're unsure if this is a hostile takeover. We'll continue to provide coverage of the situation as news breaks.