EA extends Take-Two offer deadline

By Terence Huynh on May 20th, 2008

Electronic Arts has said that it would extend their hostile takeover of rival Take-Two by one month. The $2 billion offer expired on May 16 before the deadline.

EA launched an unsolicited bid for the "Grand Theft Auto IV" publisher on 25 February for a $26-per-share, which represents a 50% premium on it’s closing price on 22 February. The extended deadline will see EA’s offer expire on June 16.

Take-Two rejected the bid, saying it undervalues the company.

Shorten URL

Comments and Pingbacks

There is currently zero comments. Why not have your say now.

Have Your Say

You can use these XHTML tags in your comments: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

All comments are checked to make sure they keep within our house rules. You might see your comment being on hold between 24-48 hours.

You can also create an avatar that will appear beside your comment whenever you leave one on a Gravatar-enabled blog.