Electronic Arts Terminates Take-Two Takeover Talks
Electronic Arts is dropping its pursuit of Grand Theft Auto 4 publisher Take-Two Interactive, the company announced today.
Following months of hostile buyout offers by EA, the companies started talks under a confidentiality agreement last month.
According to the announcement today, "EA continues to have a high regard for Take-Two's creative teams and products," however, "after careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software Inc., EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two."
Following months of hostile buyout offers by EA, the companies started talks under a confidentiality agreement last month.
According to the announcement today, "EA continues to have a high regard for Take-Two's creative teams and products," however, "after careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software Inc., EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two."
"As of 9:42am: TTWO $15.90 $-5.99 (-27.36%)
We're gonna see a lot of major share holders throw ..."52 Comments
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