FTC Asks EA for More Details on Proposed Take-Two Buyout

Authored by Mark Hefflinger on April 17, 2008 - 8:22am.

Redwood City, Calif. - Electronic Arts (NASD: ERTS) announced on Thursday that it has received a second request for information from the Federal Trade Commission (FTC) related to its proposed acquisition of fellow game publisher Take-Two Interactive (NASD: TTWO).

"While EA believes that its proposed transaction with Take-Two would not be anti-competitive, the FTC has not yet reached any conclusions regarding the proposed acquisition and has indicated that it needs further information and additional time to conduct its review," the company said in a statement.

Take-Two has so far rebuffed EA's $2 billion bid, saying it undervalues the company and is opportunistic given the looming release of "Grand Theft Auto IV."

EA's current hostile takeover offer to Take-Two shareholders expires at the end of the week.

 

Related Links:
http://snipurl.com/24rzu

http://www.ea.com

http://www.take2games.com

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