EA/Take Two deadline passes

Shareholders in Take Two have let EA’s deadline for its $2 billion acquisition offer pass by without response.

Neither firm has commented since Friday’s bid expiration deadline, set by EA last month following an extension on its original offer.

"There is nothing going on right now," Take-Two spokeswoman Meg Maise told AFP when asked about the status of the bid on Friday. "It is in [EA's] court."

Take-Two’s stock closed at $27.10 on the Nasdaq on Friday, down 0.8 per cent - but 5.2 per cent above EA’s $25.74 per share offer.

EA revealed its original unsolicited $26-per-share move for Take-Two in February.

In March, the publisher took the offer directly to Take-Two shareholders after its board rejected the bid as undervaluing the company.

It later amended the bid from $26-per-share down to $25.74-per share – when it set the May 16th deadline.


Tags: Electronic Arts , Take 2 , ea , take-two , john riccitiello

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