FTC requests more info from EA on Take-Two offer

By Patrick Garratt, Thursday, 17 April 2008 15:23 GMT

From here:

Electronic Arts Inc. said Thursday that it received a second request from the Federal Trade Commission in relation to its proposed $2 billion purchase of Take-Two Interactive Software Inc.

EA, which is the world’s largest video game publisher, said that while it believes the proposed acquisition would not be anticompetitive, the FTC hasn’t come to a conclusion and said it needs more information and time to complete its review.

Take-Two, best known for the popular “Grand Theft Auto” franchise, has repeatedly rejected a $2 billion buyout offer from EA, its larger rival. On March 13, EA began a $26 per share all-cash tender offer, which expires on Friday — the day after Take-Two’s annual shareholder meeting.

Bring on the AGM. Bring it right on.

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