EA Declines To Extend Take-Two Bid Deadline

August 19th, 2008

he Electronic Arts, Take-Two Interactive Software acquisition drama continues as the mammoth video-game publisher said it won’t extend a Monday deadline for its $2 billion offer to buy Take-Two, maker of the Grand Theft Auto franchise series.It may not be as dramatic as the Microsoft and Yahoo story, but EA and Take-Two have danced a few rounds — and they apparently aren’t done dancing.

Take-Two on Monday confirmed that it expects to sign a confidentiality agreement with EA that allows the gaming giant to enter into Take-Two’s formal process to evaluate strategic alternatives. Take-Two said it is keeping lines of communication with EA open as part of a process to “maximize value” for its stockholders.

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