EA’s Take-Two Takeover bid turns hostile
EA is now turning to Take-Two’s shareholders to divest them of their share at $26 USD, The same amount offered by EA to Take-Two’s board of governors. EA big boss John Riccitiello says:
This is a great opportunity for Take-Two shareholders. We believe Take-Two investors will see our tender offer as the best way to maximize the value of their investment in Take-Two. This tender offer provides a clear process to complete the proposed transaction. For EA shareholders, the combination would add additional intellectual properties to our already strong portfolio and welcome Take-Two’s talented creative teams to the great development organization we’ve built at EA.
Offer to Purchase for Cash All Outstanding Shares of Common Stock of Take-Two Interactive Software, Inc. at $26.00 Net Per Share by EA08 Acquisition Corp., a wholly-owned subsidiary of Electronic Arts Inc.
THE OFFER AND WITHDRAWAL RIGHTS EXPIRE AT 12:00 MIDNIGHT,NEW YORK CITY TIME, ON FRIDAY, APRIL 11, 2008, UNLESS THE OFFER IS EXTENDED.
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POSTED IN: Business Deals, Game Publishers, Mergers-Acquisitions, Take Two, ea
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