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EA Gets Hostile On Take-Two

sjohnson
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Posted March 13, 2008 - By Stephen Johnson

Reportedly, Electronic Arts just got more hostile in their takeover bid for Take-Two Interactive. According to Reuters, EA plans to launch a "tender offer "for all outstanding shares of rival Take-Two. While a tender offer might sound sweet, actually, it indicates a hostile takeover.

Neither company has issued a statement on the matter, and Reuters attributes the info to an unnamed source. We'll let you know more when we have the info. But rest assured: This shouldn't affect Grand Theft Auto 4 at all... Grand Theft Auto 5 could be a different story, of course.

UPDATE: Take-Two's board of directors has recommended that its shareholders not accept EA's offer.

From Take-Two's statement:

Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, Take-Two's Board will review and consider EA's offer, and within 10 business days, will advise Take-Two's stockholders of the Board's position regarding the offer as well as its reasons for that position.

Reuters: EA plans tender offer for Take-Two: source
(via kotaku)

Tags: Videogames
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