Edge writes: "ake-Two and Electronic Arts have been going at it for nearly half a year, firing shots back and forth as both companies flex their muscles in attempts to impress shareholders, or perhaps to scare the other into submission.
On Monday, EA offered a supposed cease fire in its battle to acquire Take-Two by saying it would let its current hostile offer of $25.74 per share expire by the end of the day. The Redwood City, Calif.-based megapublisher, led by chief exec John Riccitiello, also agreed to view a management presentation by Take-Two, during which the company will try to convince EA that the offer needs to be upped.
But the olive branch EA extended today could actually be another bullet. Analyst Mike Hickey with Janco Partners told Edge, 'We suspect that EA's decision to terminate their tender ... is likely an opportunistic effort to create weakness in Take-Two shares, which could provide [EA] with negotiating leverage as they entertain Take-Two's presentation...'"