EA Offers To Buy Take-Two Interactive For $2 Billion

Posted: Feb 25 2008, 1:52am CST | by , Updated: Aug 11 2010, 6:25am CDT, in News | Gaming

 
EA offers to buy Take-Two Interactive for $2 Billion
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Electronic Arts Inc. today announced that it has offered to acquire Take-Two Interactive Software, Inc. in an all-cash merger valued at approximately $2.0 billion.

EA's proposal of $26 per share in cash represents a premium of 64 percent over Take-Two's closing stock price on Feb. 15th, the last trading day before EA sent its revised proposal to Take-Two, and a 63 percent premium over Take-Two's 30-day trailing average price over the thirty trading days ending on that date. EA CEO Riccitiello said today: "Our all-cash proposal is a unique opportunity for Take-Two shareholders to realize immediate value at a substantial premium, while creating long-term value for EA shareholders. Take-Two's game designers would also benefit from EA's financial resources, stable, game-focused management team, and strong global publishing capabilities."

I guess we will hear today whether or not Take-Two accepts the EA offer. From the outside the proposal looks pretty tempting.
The EA Take-Two deal would just be yet another consolidation in the video game industry.
Via the EA investor site.

This story may contain affiliate links.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Manfred "Luigi" Lugmayr () is the founding Chief Editor of I4U News and brings over 25 years experience in the technology field to the ever evolving and exciting world of gadgets, tech and online shopping. He started I4U News back in 2000 and evolved it into vibrant technology news and tech and toy shopping hub.
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