Take-Two Shrugs as Electronic Arts Extends Offer

Other companies carrying out due diligence.

Posted by Staff
Take-Two Shrugs as Electronic Arts Extends Offer
Electronic Arts, having extended its offer (but not increased the price of $25.74) for Take-Two for the fifth time, has received short-shrift from the Grand Theft Auto owner.

EA's extension sees Take-Two stockholders having until August 18th to accept and sell their stock at the asking price. This extends the offer that was due to end at 11:59pm on July 18th.

Take-Two, for its part has responded and in its response is news courting by other companies has extended beyond initial chats. Having slammed EA's offer as, "inadequate", the company's chairman, Strauss Zelnick, declares that, "we continue to engage in meaningful discussions with multiple parties, a number of whom have been conducting due diligence".

"Due diligence" is not usually a term thrown around lightly - in short, if you are going to carry it out on another corporate entity then you're going to have to pay for it. Due diligence is, indeed, a step up from chatting about things at the country club.


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