EA’s Take-Two Offer Expires Today
Remember EA’s bid to take over Take-Two Software? Well, the oft-extended deadline will expire today, both companies have confirmed.
Now that the takeover threat is no longer threatening Take-Two, EA will be shown an “in-depth management presentation” that Take-Two is using to evaluate “strategic alternatives”; of course, EA will sign a confidentiality agreement that will bar them from speaking about this “presentation”.
“We are continuing to consider all alternatives that will maximize value to our stockholders,” noted Take-Two CEO Ben Feder. “We are engaged in discussions with other parties as part of a formal process to generate greater value and will act quickly to assist EA in moving expeditiously through our process.”
Take-Two is the owner of several best-selling franchises, including BioShock, Grand Theft Auto, Civilization and Max Payne. The company has been eyed by EA for a long time, with the first buyout offer occurring in February this year.