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EA extends Take-Two offer until June 16

Mon 19 May 2008 12:13pm GMT / 8:13am EDT / 5:13am PDT
Business

Price remains at USD 25.74 per share for publisher of Grand Theft Auto

Electronic Arts has confirmed that it has extended its offer to buy Take-Two until June 16.

The move comes after the latest deadline for Take-Two shareholders to decide on EAs offer expired on Friday.

"Extending our offer will allow the FTC review process to continue," said Owen Mahoney, senior VP of EA Corporate Development.

"EA's offer price remains unchanged at USD 25.74 per share and our offer is still subject to conditions that include regulatory approval. As stated earlier, we retain the right to terminate the offer if the conditions are not satisfied."

According to Electronic Arts, as of 5pm on Friday, May 16, approximately 6,210,261 shares of Take-Two had been tendered in and not withdrawn from the tender offer.

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