While Take Two stalled the deal by moving its annual meeting of stockholders to April 17th, EA has now given the publisher until midnight on April 18th to make a decision.
"The actions of the Take-Two Board may increase the risk for their stockholders by delaying a potential transaction," said EA’s senior vice president of corporate development Owen Mahoney. “We continue to believe that our $26.00 per share offer price is full and fair, and that a transaction between Take-Two and EA is the most compelling combination financially, strategically and operationally for all parties."
EA commenced on March 13, 2008 its all-cash tender offer to purchase Take-Two shares for $26.00 per share, which represents a 64 per cent premium over Take-Two's closing stock price on February 15, the last trading day before EA sent its revised proposal to Take-Two.
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