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EA Abandons Efforts To Take Over Take-Two

Posted by Soulskill on from the no-dice dept.

Erik J writes "Electronic Arts has abandoned plans to absorb Grand Theft Auto IV publisher Take-Two Interactive, the company announced earlier today. Following over half a year of hostile buyout offers by EA, the pair went into talks under a confidentiality agreement in late August. From the official announcement: 'EA continues to have a high regard for Take-Two's creative teams and products, [but] after careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software Inc., EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two.' The announcement caused Take-Two's stock to drop by 30%, and analysts expect a bidding war to ensue for employment of the GTA creators."

2 of 98 comments (clear)

  1. Re:fp by Anonymous Coward · · Score: -1, Troll

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  2. Re:No ACs within X minutes of story going live by Anonymous Coward · · Score: -1, Troll

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