No EA-Take Two deal until August 21st

Next-gen has reported

that EA cannot acquire Take Two until August 21st due to a Federal Trade Commission request for more information related to the proposed $2 billion deal.

EA has agreed to comply with the FTC’s demands, having previously set a decision deadline for Take Two of July 18th.

Despite EA’s continued pursuit of its acquisition target, Take Two has rejected each approach as inadequate”, and stated last time that EA’s approach significantly undervalues” the company.

It also re-iterated that it is pursuing possible ‘business combinatons’ with other parties, which the Board believes will give Take Two’s shareholders better value.