EA's Take-Two takeover bid drags on
19th May 2008 | 10:32
Another deadline passes, Take-Two stands firm
As GTA4 sales continue to go through the roof, the latest deadline for EA’s Take-Two take-over bid has passed.
EA set a midnight deadline last Friday for it’s latest offer of $1.9bn (£968m) which has still not been accepted by Take-Two’s shareholders.
Take-Two’s stock closed at $27.10 on the Nasdaq last week, considerably higher than the $25.74 per share currently being offered by EA.
Take-Two stands firm
"The market's probably suggesting that EA should come up with a few more dollars and that may be a likely a scenario," Colin Sebastian, an analyst with Lazard Capital Markets, told the BBC.
"It doesn't seem like shareholders would tender at $25.74 if the stock is trading at $27."
Neither company has yet responded to TechRadar’s requests for comment on the matter. Stay tuned for further updates as we get them.