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Analyst: Take-Two Offer Could Rise to $2.3 bln

Next-Gen.Biz writes: Electronic Arts is offering $26 for each Take-Two share, but EA could go as high as $30-plus per share in order to secure the competing publisher, said analyst Mike Hickey with Janco Partners.

EA's current offer for New York-based Take-Two stands at around $2 billion total, but if EA ups the offer to $30 per share, that amount would rise to around $2.3 billion.

Prior to the announcement of the offer, Take-Two shares were trading at around $17 on the Nasdaq. At noon on Wednesday, Take-Two shares were trading down 22 cents from the prior day to $26.63.

Not everyone believes that EA will go as high as $30 per share. Wedbush Morgan analyst Michael Pachter said this week that EA may add only $1 or $2 to the offering in order to keep the buyout friendly.

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