takeover

EA Extends Take-Two Tender Offer

10:30PM Mike Fahey | Following last night’s Take-Two shareholder meeting, which Leigh was kind enough to cover, Electronic Arts has announced that they are extending the deadline on their tender offer to May 16th, 2008. The offer was originally extended from its original April 11th deadline to today in response to Take-Two’s rescheduling of the annual shareholder meeting. More »

EA Mods Take-Two Tender Offer

1:20AM Mike Fahey | When Take-Two rejected EA’s buyout offer for the umpteenth time earlier this week, they also instituted a shareholder rights plan – a poison pill tactic that would give existing shareholders more room to reject the offer outright or negotiate a higher price – basically making it much more difficult for Electronic Arts to pull off the takeover. EA is not pleased. “The actions of the Take-Two Board may increase the risk for their stockholders by delaying a potential transaction,” said Owen Mahoney, Senior Vice President of Corporate Development at EA. “We continue to believe that our $26.00 per share offer price is full and fair, and that a transaction between Take-Two and EA is the most compelling combination financially, strategically and operationally for all parties.” More »