The clock is ticking to accept the latest EA deal
Last modified on Tuesday, 22 July 2008 07:56
Electronic Arts has extended its latest tender offer of $2 billion US to buy Take-Two Interactive Software. The latest offer will expire at 11:59pm E.D.T. on August 18th. This is an extension from the deal that was to expire last Friday.
So far, Take-Two has not been very interested in the offers from EA and the game maker who is best known for the Grand Theft Auto series has said that the offers from EA are just simply lower than what the company is worth.
The latest extension is the fifth extension in an attempt to reach a deal. Industry insiders continue to suggest that Take-Two needs to either align with a larger firm in a distribution deal or agree to be acquired in order to survive what only can be described as some difficult market conditions.
While the sales of the latest installment of Grand Theft Auto IV have been brisk, many have said that the title will need more innovation in the next installment of the series if the game is to continue its sales trend.