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Take Two to EA: Your buyout offer still isn't good enough

Last week Take Two Interactive held their annual stockholders meeting and an expected fight with shareholders over Electronic Arts' $26 a share buyout offer didn't materialize. So EA decided to extend a previously set deadline for their offer from April 18 all the way back to May 16. They also decided to reduce their per share offer down to $25.74 because of certain actions made at the Take Two shareholder meeting.

So what does Take Two have to say about this? Not a lot more than what they already have said about the proposed EA buyout deal. In a new press release, Take Two execs said that the offer " . . .fails to compensate our stockholders for our exceptional portfolio of intellectual property, world-class creative resources, and our successful revitalization initiatives." They repeated their contention that a number of unnamed parties are interested in talking with Take Two but that those talks won't start until after April 30. Once again it seems like this battle of the game publishing titles will continue for at least another few weeks.

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