By Akanksha Rana and Krystal Hu (Reuters) - Electronic Arts Inc said on Monday it would buy Glu Mobile Inc for $2.4 billion, bolstering its mobile platform with the addition of games such as Design Home , Covet Fashion , and MLB Tap Sports Baseball . The U.S. video game developer has offered $12.50 in cash for each Glu share, a premium of about 33% to its closing price on Monday. Electronic Arts (EA) stock was up 1.4% in extended trading, while Glu shares surged 34%. The deal, which is expected to close in the quarter ending June 30, gives Glu an enterprise value of $2.1 billion. San Francisco-based Glu received multiple takeover offers last year as its stock has underperformed those of its gaming peers, a source familiar with the situation said.
The Eugene City Council met at 7:30 pm Monday, Jan. 25, for their bi-weekly council meeting to discuss tax exemptions for an affordable housing community, listen to concerns from a flurry of environmental advocates during the public forum, and help fill an empty seat on the city’s Toxics Board.
To open the meeting, the council voted unanimously in approval of resolution approving a Low-Income Rental Housing Property Tax Exemption (LIRHPTE) for the Garfield Trailer Park on North Garfield Street.
The Garfield housing community includes nine apartments and six mobile homes. The proposed rents, which would affect all properties range from $331 monthly for a studio and $612 for a three-bedroom unit. The changes would not be possible without a LIRHPTE in effect and would only be offered to residents earning no more than 60 percent of the area’s average, said Ellen Meyi-Galloway, a member of the Committee of Development. Furthermore, all money saved through the exemption would go