EA Amends Offer for Take-Two
Electronic Arts has made some minor amendments to its offer to acquire all the outstanding shares of Take-Two Interactive, responding to Take-Two's recent efforts to block the acquisition.
Primarily Electronic Arts has extended its offer to April 18 (to make the offer expire after the revised date of Take-Two's general shareholder meeting) and added a condition that either Take-Two's Directors have redeemed their preferred stock purchase rights or that such rights have been invalidated (in other words, EA won't buy the stock if someone could somehow block the transaction). EA emphasized that Take-Two's actions are just increasing the risk to shareholders by trying to block what EA feels is a "full and fair" price.
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