08:33 AM - March 13, 2008 by Steve_OS
- EA to turn Take-Two bid hostile: WSJ
Quote:"Electronic Arts Inc (NasdaqGS:ERTS - News) plans to make a tender offer to acquire all of rival video game publisher Take-Two Interactive Software Inc's (NasdaqGS:TTWO - News) outstanding shares for $26 each, the Wall Street Journal reported on Thursday, citing people familiar with the matter."
- EA Commences All Cash Tender Offer to Purchase Take-Two Interactive Software Shares for $26.00 Per Share
Quote:"Electronic Arts Inc. (“EA”) (NASDAQ:ERTS - News) today announced that a wholly owned subsidiary of EA commenced a tender offer for all of the currently outstanding shares of common stock of Take-Two Interactive Software, Inc. (“Take-Two”) (NASDAQ:TTWO - News) for $26.00 per share in cash.
The offer is valued at approximately $2 billion and represents a 64% premium over Take-Two’s closing stock price on February 15, the last trading day before EA sent its revised proposal to Take-Two."