Deadline passes in EA bid to buy Take-Two Interactive shares

A deadline for Take-Two Interactive Software shareholders to agree to a buyout by video game giant Electronic Arts has passed with neither firm commenting on the takeover bid's fate.

EA took its two-billion-dollar offer directly to Take-Two shareholders after the board of directors rejected the bid, saying it undervalues the company behind blockbuster video games including the hot "Grand Theft Auto" franchise.

EA set Friday as the expiration date for its offer to buy shares of Take-Two stock for 26 dollars each. Take-Two shares were priced slightly above that amount in after-hours trading.

"There is nothing going on right now," Take-Two spokeswoman Meg Maise said when asked about the status of the bid Friday afternoon. "It is in (EA's) court."

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-EvoAnubis-5494d ago

"Take-Two's board refused to even discuss a takeover with EA prior to the April 29 launch of "Grand Theft Auto IV: Liberty City Stories," which tallied a record-breaking 500 million dollars in sales in its first week."

WTF is GTAIV: Liberty City Stories? Did R* do an expansion pack already?

ikiru33855494d ago

there goes the credibility of that site

MK_Red5494d ago

LOL, that was a classic.

Official Yahoo news... LMAO. At least they didn't say San Andreas Stories.

niall775494d ago

.. is it over now?

is take2 free?

Tetsuryu5494d ago

If Yahoo news is to be believed, it appears they have been liberated.

Premonition5494d ago

OWNED!, lol i remember on G4TV-THE FEED, if EA couldn't buy out Take 2, then they would have to pay back that 2 billion back with interest.

buddyro5494d ago

please don't try again you will look desperate why do you think Microsoft never asked again for another attempt at Yahoo.

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