EA Extends Take-Two Bid
June 17th, 2008 by Rajiv Ashrafi in Business
Exasperating shareholders further, monolithic publisher EA has extended its hostile takeover bid for Take-Two for the fourth time. The GTA publisher’s shareholders now have until July 18 to consider EA’s unchanged offer of $25.74 per share.
EA blames the extension on the ongoing FTC review process of the proposed merger. The earlier deadline was set for June 16 before which EA made an unsolicited $2 billion offer to buy Take-Two in late February and then took it to the shareholders.
Take-Two, so far, has expressed concern on the merger, not agreeing to sell itself to EA.
Tags: Business
