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Having swept past the
previous deadline of June 16th
, EA remains determined to push through its offer for Take Two and has extended its tender offer for all currently outstanding shares of common stock to expire at 11.59pm on July 18th.
Our offer price remains unchanged at $25.74 per share, which is a substantial premium to where Take-Two’s stock was trading prior to our offer,” said senior vice president of EA corporate development Owen Mahoney.
"We congratulate Rockstar on the successful launch of GTA IV but believe our offer reflects a full and fair price based on the long-term value of Take-Two’s entire operation."
Extending the tender offer allows the FTC review process to continue. The proposed transaction is still subject to certain conditions that include regulatory approval, and EA retains the right to terminate the offer if the conditions are not satisfied.
As of 5:00 p.m on Monday, June 16, 2008, approximately 6,139,824 shares of Take-Two had been tendered in and not withdrawn from the tender offer.
