EA Gets $1B Loan for Possible Take-Two Buyout

Mega-publisher Electronic Arts revealed today that it has secured up to $1 billion in financing for a possible purchase of Take-Two Interactive Software, should it acquire the company by January 9, 2009.

The total sum comes from agreements with multiple banks, including Morgan Stanley Senior Funding, Inc., Morgan Stanley Bank, BNP Paribas, BNP Paribas Securities Corp., The Bank of Nova Scotia and KeyBank National Association.

EA initially made a $2 billion offer to acquire Grand Theft Auto and BioShock publisher Take-Two back in March. Take-Two noted that it would be open to discussing possible business agreements following the release of Grand Theft Auto IV (PS3, X360) on April 29.

While open to discussing possible business combinations, Take-Two has clearly stated its intent to remain independent. Within Grand Theft Auto IV's first week at retail, the game sold six million units and brought in $500 million.