EA saga costs Take Two $5m

Take Two's battle to wriggle out of being acquired by EA has been a costly process, according to its Q2 fiscal announcement.

The official documents state that Take Two's spendings amounted to $5.3 million in the six months to May 31st – a sum that went to "professional fees and legal expenses, with the majority related to Electronic Arts' unsolicited tender offer."

The company also reiterated that it was speaking other interested parties, but no other news on EA’s $2 billion tender bid was revealed.

However, later in an earnings call, Take Two chairman Strauss Zelnick was asked: “Could you just give us a little bit of color how your development teams are working through EA’s hostile bid?”

He replied: "I think we’ve demonstrated that despite distractions, everyone has their head down and a smile on their face and is getting the job done, and we are very - immensely grateful to the team, to the Rockstar Label, to the 2K label, to all of our management, our sales management, distribution management, and corporate management worldwide for staying focused on the job at hand and staying focused on building this company and building shareholder value.

"And that’s our job and I think everyone’s done a remarkable job staying focused and we are - as I said, we are immensely grateful for the team’s terrific work under not insignificant pressure."

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Tags: Electronic Arts , ea , john riccitiello

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