EA extends its Take Two take over offer yet again

Posted Jun 17th 2008 1:00PM by John Callaham
Filed under: Biz

It's not exactly a shock but Electronic Arts has announced that it has extended its take over offer for fellow publisher Take Two Interactive yet again. This is the fourth such extension that EA has given for the proposed merger of their rival that they first announced earlier this year. The new deadline is now July 18 and EA has not changed their offer; they are still offering Take Two $25.74 a share for their stock. This was not unexpected as EA had already revealed that they are waiting for the results of an investigation into the merger by the Federal Trade Commission to be completed before they move forward with their plans.

Take Two wasted no time in responding to this latest EA extension saying yet again that EA's offer "still significantly undervalues Take-Two". Of course, Take Two has issues of their own with the FTC investigation; it was recently revealed that the company is fighting a subpoena to reveal their financial records.

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

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