According to this Reuters story, EA and Take-Two are now to enter previously-announced private talks about the potential merger of the two firms, and have signed documents to ensure all negotiations are kept out of the public eye.
“As a result, EA does not intend to make any further announcements regarding the status of any discussions or negotiations with Take-Two unless and until discussions between EA and Take-Two have been terminated or such parties have entered into a transaction,” EA said in a regulatory SEC filing.
EA offered to buy Take-Two for $25.74 a share, or about $2 billion, in April. The bid was repeatedly rejected as too low.
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