James Lee
07:37 (BST)
26/08/2008
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EA and Take-Two sign confidentiality agreement
Electronic Arts and Take-Two have signed a confidentiality agreement barring either side from talking about the status of the ongoing acquisition negotiations.
According to an SEC filing, the deal prohibits both sides from "disclosing the status or terms of any discussions or negotiations... unless EA or Take-Two notifies the other that it is terminating discussions".
"EA now requires due diligence to support any proposal to acquire Take-Two," read the filing from EA.
This follows news that the US Federal Trade Commission would allow the merger between the two companies to take place, after EA announced it would let its tender offer for Take-Two expire and instead carry out face to face negotiations into 2009.
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