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EA Gets Hostile with Take-Two

By Chris Bennett, Tudor Carsten, Michael R. Coburn, Sarah Dale-Harris, Pablo Guzman, Danielle (Dani) Lemon, Chris Metcalfe and David Spratley

The stakes have risen in Electronic Art's ('EA') attempt to acquire Take-Two Interactive ('Take-Two'). After having been rebuffed by the management of Take-Two, EA has now shifted its strategy to a so-called 'hostile' take-over bid.

The hostile bid basically involves EA making a direct offer to the shareholders of Take-Two. EA's offer amounts to a total purchase price of approximately $2 billion (or $26 per share).

EA's offer is open until April 11th.

Coverage at: GameDaily

Previous coverage at: Davis Video Game Blog

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Full post as published by Video Game Law Blog on March 20, 2008 (boomark / email).