EA Extends Offer to Acquire Take-Two Interactive

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Electronic ArtsElectronic Arts has extended its offer to acquire all the currently outstanding shares of Take-Two Interactive at $25.74 per share. The offer now will expire on June 16.
EA offered some explanation for the extension. Owen Mahoney, Senior Vice President of EA Corporate Development, said, "Extending our offer will allow the FTC review process to continue." The offer is still subject to regulatory approval, so it is important that EA receives that approval.

Take-Two Interactive responded to the extension, declaring that Take-Two still believes the offer is inadequate, and that so far only 8% of Take-Two Shareholders have officially jumped on the EA acquisition bandwagon.

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This page contains a single entry by Editor published on May 19, 2008 6:00 AM.

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