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EA Makes Hostile Bid for Take-Two Interactive

Authored by Scott Goldberg on March 13, 2008 - 7:26am.
Los Angeles - After its unsolicited bid to acquire Take-Two Interactive was rejected, EA (NSDQ: ERTS) launched a tender offer to acquire all of Take-Two's outstanding shares for $26 each, the price it offered the company last month, the WSJ reports. According to the WSJ, the move demonstrates that EA's attempt to gain control of Take-Two, publisher of the blockbuster Grand Theft Auto game, is "turning hostile."

"Take-Two's board recommended today that its shareholders take no action at this time, saying it would advise investors on its position within 10 business days," the WSJ writes.

Read more:

http://tinyurl.com/2b7pgq

Published in DMW Daily, March 13, 2008
tags: Games | Deals | EA | Video Games | Take Two |



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