News
Federal Trade Commission ups investigation into EA
Tim Ingham Apr 17 2008, 8:50pm
US watchdog asks publisher for more legal information about ‘hostile’ Take Two bid
Electronic Arts has received a second request from the Federal Trade Commission in relation to its proposed $2 billion purchase of Take-Two.
According to Yahoo’s finance pages, EA said that while it believes the proposed acquisition would not be anticompetitive, the FTC hasn't yet come to a conclusion - and has asked for more information and time to complete its review into the approach.
Take-Two has repeatedly rejected a $2 billion buyout offer from EA. On March 13th, EA began a $26 per share all-cash tender offer, which expires this Friday - a day after Take-Two's annual shareholder meeting in the US.
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