EA deadline on Take-Two passes – $1.9 Billion won’t do it
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A deadline set by US video game giant Electronic Arts for shareholders in Take-Two Interactive Software to accept a $1.9bn offer has passed. EA revealed its unsolicited $25.74 a share move for Take-Two, the owner of Grand Theft Auto, back in February.
Take-Two’s board had refused to discuss a takeover with EA before the 29 April launch of “Grand Theft Auto IV.” Take-Two saw its stock close at $27.10 on the Nasdaq, down 0.8% but 5.2% above the $25.74 per share offered by EA. “The market’s probably suggesting that EA should come up with a few more dollars and that may be a likely a scenario,” said Colin Sebastian, an analyst with Lazard Capital Markets.
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