Riccitiello pulled plug on Take-Two deal previously

Transaction would have gone ahead last April, but EA structure wasn't ready.

Electronic Arts CEO John Riccitiello has revealed that a transaction to buy Take-Two was at an advanced stage last April, and would have gone ahead, had he not pulled the plug at the eleventh hour and recommended against it to the EA board.

"In terms of my prior interest in Take-Two, I'd draw your attention to a time about a year ago. Take-Two announced then they were considering a strategic transaction with a company in the sector. Let me tell you, that was Electronic Arts. I was joining Electronic Arts at the time, we were very serious about concluding the transaction at that point in time, and we got very close to making a proposal that I think would have concluded the transaction. At the eleventh hour I made a call to the board of Electronic Arts that they should not pursue it for the simple reason that I realised that we, within EA, were going to go through some change."

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