EA won’t extend Take-Two deadline, deal to lapse

By Patrick Garratt
18 August 2008 14:31 GMT


EA’s announced that it won’t extend its deadline to buy Take-Two after its current deadline lapses tonight, saying that it doesn’t believe it could integrate the firm in time for Christmas if things drag on any longer.

Take-Two shares fell nearly 6 percent in premarket trade to $23.38 today.

The news comes after weekend talks between EA chief John Riccitiello and Take-Two chairman Strauss Zelnick.

EA has said it will see a three-year plan presentation from Take-Two, but that it’s five-times-renewed tender offer will drop tonight.

So that’s the end of that. For now.

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