All Posts Tagged With: "electroic arts"

EA Drops Hostile Bid for Take-Two but a Friendly Deal Could be Imminent

Electronic Arts Inc. (ERTS) dropped its $2 billion hostile takeover of video game publisher Take-Two Interactive Software Inc. (TTWO) yesterday (Monday), but the two companies have entered into private discussions that may finally result in a friendly merger.

Relations between the two companies began to thaw Friday, when Electronic Arts Chief Executive Officer John Riccitiello placed a call Take-Two Chairman Strauss Zelnick. After a weekend of discussions, EA announced that after six months, it would not extend the deadline for its hostile takeover bid.

EA said yesterday that its $25.74 a share offer was contingent on being able to distribute…

19Aug2008 | Money Morning | 1 comment | Continued

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