Monday, May 19, 2008

EA Offers Take-Two Buy Out...Again

Today Electronic Arts (Publisher of Battlefield and The Sims) has extended its deadline for the buy out of Take-Two (Publisher of Grand Theft Auto, BioShock) for the third time around. EA is offering $25.74 a share for the second time; On April 18, EA pushed its dead line to May 16 but dropped its share price from $26 a share. The reason why EA extended the offer was for the Federal Trade Commission can complete its investigation into the deal. Take-Two was swift to tell its Stock Holders not to sell their shares. Strauss Zelnick Chairman of Take- Two said
We said we were willing to begin formal discussions with interested parties on April 30, following the launch of Grand Theft Auto IV, and we have in fact begun that process."
Strauss Zelnick also stated that EA wasn't the only company looking at buying out Take Two.

EA as of May 16 owns 6,210,261 of Take-Two's shares which is around 8% of the total amount. But Since the Launch of Grand Theft Auto IV Take-Two's shares have raised to $27.10 on Friday at closing which is more then what EA is offering per share.

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