EA Gets $1B More for Take-Two Purchase

May 10th, 2008 by Rajiv Ashrafi in Business, News

eafront It seems that monolithic publisher Electronic Arts still haven’t given up its hopes of acquiring Take-Two Interactive, for which it made a $2 billion offer back in March. While the deadline for the offer passed in April, Take-Two is reportedly open to “possible business agreements” and EA is ramping up for it. In fact, they have secured up to $1 billion in financing for a possible takeover of Take-Two, should it acquire the company by January 2009.

This money comes from agreements with multiple banks, including Morgan Stanley Senior Funding, BNP Paribas, and The Bank of Nova Scotia, among others. The whole offer would be increased to $3 billion it seems, though Take-Two has stated its intent to remain independent. The company recently got a major injection of money in the form of the GTA 4 release which brought in $500 million during its first week.

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