EA Offers $2 Billion For Take-Two, Gets Rejected

We’re just into the year 2008, and EA is already looking to acquire a major competitor. EA has revealed that it offered to buy Take-Two a week ago, but the management rejected the offer. EA has now taken the offer public, hoping that Take-Two shareholders will have a different opinion. The offer is at $26 per share, 62% above what the share is trading for. The total amount is $2 billion, but before EA could start celebrating having BioShock and Grand Theft Auto under their wings, the board at Take-Two has rejected the deal. However, some suggest that EA won’t stop here, and might do what Microsoft is currently doing by trying to acquire Yahoo (i.e. keep pushing).