Electronic Arts extends Take-Two offer deadline
Electronic Arts Inc said it extended by one month its $2 billion hostile offer to acquire rival video game maker Take-Two Interactive Software Inc.
EA said about 6.2 million shares, or about 8%, of Take-Two had been tendered in the offer. Take-Two has rejected the bid, saying it undervalues the company.
The US Federal Trade Commission previously asked for more information about the proposed buyout. Extending the tender deadline will allow the FTC's review of the proposed deal to continue, EA's senior vice president of EA corporate development, Owen Mahoney, said in a statement.
Additional details were not immediately available. (Reuters)
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