Take 2 Rebuffs EA Again
- Scribbled on March 26th, 2008 by Jonah Falcon
- Filed in Industry News, Legal Brief, Press Release
Electronic Arts keeps courtin’, and Take 2 Interactiive keeps telling them “no”, as they announced in their latest press release they “[rejected] Electronic Arts’ offer as inadequate”:
The Board of Directors of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today announced that it has thoroughly reviewed Electronic Arts Inc.’s (NASDAQ: ERTS; “EA”) unsolicited conditional tender offer with the assistance of its financial and legal advisors and unanimously determined that the $26.00 per share cash offer is inadequate in multiple respects and contrary to the best interests of Take-Two’s stockholders. Accordingly, the Board recommends that stockholders not tender any of their shares to EA. The basis for the Board’s unanimous decision is set forth in Take-Two’s Schedule 14D-9 filed today with the Securities and Exchange Commission.
Let’s see if Take 2’s tune changes after Rockstar releases Grand Theft Auto IV, since they said “No” the first time because of it.
May 7th, 2008 at 9:54 am
[...] Take 2 Interactive’s constantly putting off Electronic Arts’ desire to buy them started to bear fruit? The New York Times states that Take 2 is going to announce that they sold [...]