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Riccitiello buys $1 million of EA shares

Electronic Arts CEO makes purchase following extension of Take-Two offer

Electronic Arts CEO John Riccitiello purchased almost USD 1 million in company stock the day after the publisher extended its offer to but Grand Theft Auto firm Take-Two.

Riccitiello bought 20,000 shares amounting to USD 976,000 in stock, and is the second purchase the CEO has made since rejoining the company in 2007.

"John believes that senior executives should be invested in the company," a spokesperson for EA told Barrons.

Riccitiello now owns 47,294 shares and approximately 75,000 exercisable options.

On Monday EA continued its pursuit of Take-Two by extending its tender offer for a month, until June 16.

The move prompted Take-Two's chairman Strauss Zelnick to once again dismiss the offer.

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