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FTC requests more info from EA on Take-Two offer

Patrick Garratt avatar
News by Patrick Garratt Founder & Publisher (Former)
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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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About the Author
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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