EA Extends Offer For Take-Two
Posted by x3sphere at March 28, 2008, 10:30 am

Electronic Arts isn’t giving up just yet in its bid to acquire Grand Theft Auto publisher Take-Two. Today, the company extended the deadline of its tender offer to April 18. The move comes particularly in wake of Take-Two’s recent decision to move its annual stockholder meeting to April 17 and reject EA’s offer of $26 per share.
EA has extended its tender offer for all of the common stock of Take-Two until 11:59 p.m., New York City time on Wednesday, April 18, 2008, unless further extended. The offer was previously set to expire at midnight, New York City time, on April 11, 2008.
Additionally, EA has added a condition to its offer requiring Take-Two to either redeem preferred stock purchase rights, or give affirmation that said rights would be rendered invalidated in the event of an acquisition.
