EA Offers $2B for Take-Two

Shades of another takeover we've been discussing lately.  Electronic Arts announced Sunday they have made a $2B cash offer for Take-Two Games, best known for "Grand Theft Auto."

U.S. video game publisher Electronic Arts Inc said on Sunday it wants to buy rival Take-Two Interactive Software Inc, best known for its "Grand Theft Auto" title, for about $2.0 billion in cash.

The $26-per-share offer by Electronic Arts, publisher of blockbuster games like "Madden" and "Need for Speed," represents a 50 percent premium to Take Two's Friday closing stock price of $17.36.

The offer follows months of speculation that Take-Two would be acquired by a major games publisher or media publisher. Take-Two rejected EA's offer, calling it "inadequate," and valued the company at a "significant discount" to peers.


Yes, you read that correctly.  Take-Two has already rejected the offer.  Hostile takeover, anyone?
Via:  Reuters
Tags:  Take-Two, offers, Two, EA, K

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