Sebastian: Expect Take-Two buyout news on Monday

By Patrick Garratt, Wednesday, 14 May 2008 12:31 GMT


Lazard Capital’s Colin Sebastian just issued a note on last night’s EA financials saying that news on the company’s proposed buyout of Take-Two can be expected next Monday.

“Expect update on TTWO bid by Monday morning,” he said. “We continue to believe that the current offer of $25.74 per share would be accretive to earnings for Electronic Arts, as well as fill several meaningful product gaps.”

If this is the news many expect it to be, expect a force 65 netplosion early next week.

The analyst is maintaining a “buy” rating on EA’s stock and a target of $58 on a current price of $54.57.

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