EA delays Take Two takeover bid yet again

Posted Jul 9th 2008 10:30AM by John Callaham
Filed under: Biz

And yet again with the delays. Electronic Arts' hostile bid to merge with Take Two Interactive has been going on for several months now with numerous extensions to their so-called "deadline" for the deal to be made. It's kind of like that old Robin Williams routine where he was imitating Liby leader Muammar al-Gaddafi. "Ok, you cross this line of death you die. Ok you cross this line you die. This line you die. Ok you are at my door. I'm not coming out."

Anyway a new US Securities and Exchange Commission entry by EA states that the publisher is in "substantial compliance" with the request made earlier this year by the Federal Trade Commission to give more info to the FTC on their planned merger with Take Two. EA has now said that they won't move to complete the merger earlier than August 21, a delay from their previous deadline of July 17. EA's asking price for Take Two remains at $25.74 a share which Take Two execs have repeated stated is too low for them.

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

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