September 9^th, 2002 (12:00am) - This article is un-edited from the news source Cube-Europe. But only the important parts are used. For full article click on the link at the bottom of this news story.

A few days ago, popular Brit-gaming website CVG reported that a buyout of Rare Ltd was looking likely. According to senior industry insiders, Activision was the forerunner to buying Rare but was unable to stump-up enough cash. However, following Activision’s u-turn, Microsoft were said to be highly interested in paying the £350 million price-tag for the outfit.

CVG suggested that an announcement would be made at Microsoft’s X02 event in Seville in late September. The software-focused event would, in essence, be perfect to announce that Microsoft had acquired the critically acclaimed developer. Computer and Videogames also led readers to believe that the upcoming Perfect Dark Zero is heading exclusively to Xbox.

Cube Europe were contacted by a highly credited individual earlier this week who ’confirmed’ that Microsoft has already bought Rare for £240 million. Allegedly, both parties have already signed the deal and the only intervention from Nintendo could prevent the deal from being finalised. According to the industry bigwig, it is at Nintendo’s discretion that the final proceedings can be made to make Rare part of Microsoft. However, further delving and this is not the case. As Rare own the majority share, Nintendo would be obliged to sell their property. I doubt, however, that Rare could be so callous.

~ditto~