Matt Martin
10:34 (BST)
19/05/2008
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EA to extend Take-Two offer again?
Electronic Arts is likely to extend its offer to buy Take-Two, according to a report by the Wall Street Journal.
The official offer from EA expired last week, with neither company making any official announcement regarding progress.
In a continuing saga, the FIFA and Madden publisher extended its offer in April, lowering the price to USD 25.74 per share, prompting Take-Two to dismiss the offer as undervaluing the company.
Earlier this month, EA's VP of corporate communications Jeff Brown told GamesIndustry.biz that the company "was not desperate and there's not a clock ticking," over the acquisition, as the longer it takes, the less valuable Take-Two will become.
"EA's not desperate. Part of our business model for making this thing work at USD 2 billion is the assumption that if we can get this done in time to publish their games going into Christmas holiday in '08 – because EA has an unchallenged publishing capacity around the world – we could without question sell more units of those games than they could if they were on their own," stated Brown.
GamesIndustry.biz has contacted Electronic Arts for further confirmation.
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