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Take-Two to sign with EA

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Take-Two says it is expect to sign a confidentiality agreement with EA which will allow "EA to enter into Take-Two's formal process to evaluate strategic alternatives," writes CVG.

"We welcome EA into our formal process and look forward to demonstrating to their Board the significant strides made by Take-Two since they last undertook a detailed review of our business in early 2007," said Strauss Zelnick, chairman of Take-Two

"Our Board remains unwavering in its belief that EA's unsolicited conditional tender offer of $25.74 per share was inadequate and undervalued Take-Two's world-class entertainment franchises and our strong operational and financial performance."

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By Mike Bowden

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