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Confirmed: EA makes aggressive bid for Take-Two

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EA has made a tender offer of $26 per share for Take-Two, an offer valued at approximately $2 billion and a 64 percent premium over Take-Two’s closing stock price on February 15, the date of the last bid to be rejected by Take-Two's board.

EA CEO 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.”

The tender offer is scheduled to expire at midnight, New York City time, on Friday, April 11, 2008, unless the tender offer is extended.

More here.

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Patrick Garratt avatar

Patrick Garratt

Founder & Publisher (Former)

Patrick Garratt is a games media legend - and not just by reputation. He was named as such in the UK's 'Games Media Awards', the equivalent of a lifetime achievement award. After garnering experience on countless gaming magazines, he joined Eurogamer and later split from that brand to create VG247, putting the site on the map with fast, 24-hour a day coverage, and assembling the site's earliest editorial teams. He retired from VG247, and the games industry, in 2017.

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