Date: 03-17-2008
Electronic Arts (EA) is aggressively pushing its $2 billion hostile takeover bid for Take-Two Interactive with Take-Two’s shareholders, although EA says it has no plans to up the bid. The current offer is set to expire at midnight on April 11. Analysts say that EA needs to secure the support of the talented game developers of the Grand Theft Auto (GTA) and Bioshock franchises to make the acquisition pay off. New York-based Take-Two Interactive has said that it is willing to talk with EA, but only after it releases the fourth incarnation of the mega-hit GTA series on April 30. Take-Two has already rebuffed EA’s previous offers, saying they undervalued the company. EA is feeling the heat of losing the number one spot as it braces for a direct attack on its standing after the impending deal between archrival Activision and French conglomerate Vivendi.
