EA gets aggressive with Take-Two

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$2 Billion offer extended to T2 shareholders. "This is a great opportunity," entices EA

EA's conquest to buyGTA IVpublisher Take-Two has stepped up a gear as it extends a tender offer directly to Take-Two shareholders, following the company's rejection of its original offer.

EA has made a tender offer of $26 per share to Take-Two's shareholders, which is valued at approximately $2 Billion - the same sum Take-Two itself turned down last month.

The offer is scheduled to expire at 5am GMT on Saturday, April 12. Take-Two is due to launch GTA IV two weeks later.

"This is a great opportunity for Take-Two shareholders," said EA CEO John Riccitiello. "We believe Take-Two investors will see our tender offer as the best way to maximize the value of their investment in Take-Two.

"This tender offer provides a clear process to complete the proposed transaction. For EA shareholders, the combination would add additional intellectual properties to our already strong portfolio and welcome Take-Two's talented creative teams to the great development organization we've built at EA."

This is going to end in tears. But who will be crying, EA's Riccitiello, or the Take-Two suits?

Courtesy of CVG.

Mar 13, 2008