ALL - EA Makes Offer To Take- Two Shareholders, T2 Board Advises No Action Yet

PlayStation News by Lyndon M STAFF 58 days ago
ea take-two buyout ps3 ps2 offers

Earlier today Electronic Arts submitted a tender to the shareholders of Take-Two Interactive offering to buy their shares at a price of $26 each. This would be a total of USD 2 billion if everyone agreed and a 64% premium compared to the current price for the shares on the stock market.

"This is a great opportunity for Take-Two shareholders," commented John Riccitiello, CEO of EA. "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," he added. This offer is open until April 11.

As for Take-Two's reaction to this? While they could not stop anyone from selling their stock, if they choose to do so, they did advise people to not take any action regarding the offer. Take-Two's board is currently considering the offer and will advise their shareholders within 10 working days.

"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," said the company in a statement.

Discuss

Comments Who Voted Related Links

ALL - EA Makes Offer To Take- Two Shareholders, T2 Board Advises No Action Yet

Comments

Who voted for this story

Related Links