EA Extends Take-Two Bid
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June 17th, 2008
Exasperating shareholders further, monolithic publisher EA has extended its hostile takeover bid for Take-Two for the fourth time. The GTA publisher’s shareholders now have until July 18 to consider EA’s unchanged offer of $25.74 per share.
EA blames the extension on the ongoing FTC review process of the proposed merger. The earlier deadline was set for June 16 before which EA made an unsolicited $2 billion offer to buy Take-Two in late February and then took it to the shareholders.
Take-Two, so far, has expressed concern on the merger, not agreeing to sell itself to EA.
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