Electronic Arts Won't Buy Take-Two Until August

Another episode in the video game soap opera

Posted by Staff
Electronic Arts Won't Buy Take-Two Until August
More news on the Electronic Arts wants to buy Take-Two Interactive saga. The last episode featured Take-Two having to file information with the Federal Trade Commission and not feeling good about the at all.

Electronic Arts has also had to show good cause to the FTC as to why its take-over bid for the parent publisher of Grand Theft Auto IV and BioShock (among others) doesn't indicate a monopoly.

Well, EA has - as far as it is concerned - complied. In the latest announcement regarding the deal we are told, "On July 7, 2008, Parent (EA) certified to the FTC that as of such date it was in substantial compliance with the Second Request.

Based upon Parent’s certification and the agreement between Parent and the FTC, Parent will not consummate the acquisition of the Company (Take-Two) prior to the earlier of (i) August 21, 2008 or (ii) written notice from the FTC closing the investigation.”

So, far as EA is concerned it will indeed be consummating the marriage after August 1st.

Source: Take-Two


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