No deal reached; analysts believe EA will extend bid yet again
The deadline for EA’s tender bid for Take Two has passed without incident for the second time in a row.
Analysts are now predicting that EA will have to draw a ‘new line in the sand’ when it comes to the deal – and announce a fresh deadline today.
Take-Two shares closed down seven cents at $26.40 yesterday, while Electronic Arts closed up seven cents at $47.06.
"Once they get the Federal Trade Commission approval, I believe [EA] will evaluate the marketplace and potentially raise the bid slightly," Sterne Agee analyst Arvind Bhatia told the New York Post.
EA’s $2 billion tender offer was set to expire yesterday – and company CEO John Riccitiello needed to convince at least 51 per cent of Take Two investors to sell up.
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The current $25.74 per share bid (around $2.1 billion) has already been amended once, but Take Two executive chairman Strauss Zelnick is still encouraging investors to hold out.
Take-Two has already shipped over 11 million copies of Grand Theft Auto IV.
Comments
Zzzzz...
All this flirting is getting tedious now...
Re: Zzzzz...
Ridiculous.
For the 4th time ?
the dating game
EA: guys seriously, you aren't playing the game right ... you need to try a little control, play hard to get, make Take Two want you ...
... TRY to not look like a desperate nympho pensioner who is running down the street with her panties round her ankles (along with her boobs) shouting after Take Two to "take me now big boy"!
You're better than this lol
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