EA's Take-Two takeover bid drags on

19th May 2008 | 10:32

EA's Take-Two takeover bid drags on

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.

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