EA launches hostile £1bn takeover bid for gaming rival Take-Two
Published Date:
26 February 2008
US video games publisher Electronic Arts (EA) has launched a $2bn (£1bn) takeover bid for rival Take-Two Interactive Software, owner of Grand Theft Auto, the video game which originated in Scotland.
The world's largest independent games group has proposed an all-cash bid of $26 a share, after the New York-based company's board privately rejected two offers.
The proposal is a 50 per cent premium to Take-Two's closing share price on Friday. Take-Two has rejected the approach, saying it lacked value for shareholders.
EA said Take-Two's quick acceptance of the offer would mean EA could put its marketing muscle behind the release of Grand Theft Auto IV in April.
The full article contains 125 words and appears in The Scotsman newspaper.
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Last Updated:
25 February 2008 8:47 PM
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Source:
The Scotsman
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Location:
Edinburgh
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Related Topics:
Computer games
