Electronic Arts Extends GTA IV Publisher Offer
No better bid.
19 May 2008
Okay, Electronic Arts is not taking 'Meh' for an answer in its bid to buy GTA IV publisher, Take-Two Interactive. Take-Two has just posted the following on its investor relations information site.
"On May 19, 2008, Purchaser extended the Expiration Date of the Offer until 11:59 p.m., New York City time, on Monday, June 16, 2008, unless further extended. As of 5:00 p.m., New York City time, on May 16, 2008, approximately 6,210,261 Shares had been tendered and not withdrawn from the Offer."
According to EA, "Extending our offer will allow the FTC (Federal Trade Commission) review process to continue,” said Owen Mahoney, Senior Vice President of EA Corporate Development. “EA’s offer price remains unchanged at $25.74 per share and our offer is still subject to conditions that include regulatory approval. As stated earlier, we retain the right to terminate the offer if the conditions are not satisfied."
No comment is yet available from Take-Two itself.
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