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EA Tenders Offer to Acquire Take-TwoFollowing last month's failed attempts, Electronic Arts has announced that they've tendered an offer to acquire fellow game publisher Take-Two Interactive. While the $26.00 per share offer hasn't changed, they are now appealing directly to Take-Two shareholders and have uploaded a detailed PDF outlining the proposal. The offer will officially expire at midnight on Friday, April 11th, unless an extension is granted. Here's a little snippet from the press release: EA Chief Executive Officer John Riccitiello: “This is a great opportunity for Take-Two shareholders. We believe Take-Two investors will see our tender offer as the best way to maximize the value of their investment in Take-Two. This tender offer provides a clear process to complete the proposed transaction. For EA shareholders, the combination would add additional intellectual properties to our already strong portfolio and welcome Take-Two’s talented creative teams to the great development organization we’ve built at EA.” In response to this news, Take-Two has issued a press release of their own, asking shareholders to "take no action at this time" and allow the board of directors to review EA's latest offer and make an official recommendation.
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