Federal Trade Commission ups investigation into EA

MCV Staff 17th April 2008 Publishing

Electronic Arts has received a second request from the Federal Trade Commission in relation to its proposed $2 billion purchase of Take-Two.

According to Yahoo’s finance pages, EA said that while it believes the proposed acquisition would not be anticompetitive, the FTC hasn’t yet come to a conclusion – and has asked for more information and time to complete its review into the approach.

Take-Two has repeatedly rejected a $2 billion buyout offer from EA.

On March 13th, EA began a $26 per share all-cash tender offer,

which expires this Friday – a day after

Take-Two’s annual shareholder meeting in the US.

Keep checking back on Mcvuk.com for the latestinformation.

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