EA's deadline for Take Two buy out offer comes and goes

Posted May 17th 2008 1:35AM by John Callaham
Filed under: Biz

Last month, Electronic Arts decided to extend their deadline for their $2 billion buy out offer for Take Two interactive until 11:59 pm on May 16. In case you weren't sure, that was yesterday. Yep, the deadline has come and gone without any comment at all from either party as of the posting of this article.So the big question is, "Now what?"

Take Two's stock ended trading on Friday at $27.10 a share, much higher than EA's offer of $25.74. Just a few days ago, EA revealed in a financial filing that it had secured a $1 billion loan they could use in such a buy out deal. So what happened? Is EA going to walk away? Will they prepare a new offer? Will Take Two consider other offers as the company's management hinted they might do after the release their Rockstar Games branded title Grand Theft Auto IV? The ball is in EA's court.

Tags: ea, electronic-arts, rockstar-games, take-two-interactive

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