Take-Advices Stockholders To Ignore EA’s Buyout Offer
Press Release below…
New York, NY - March 13, 2008 -The Board of Directors of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today recommended that Take-Two stockholders take no action at this time in response to the announcement by Electronic Arts Inc. (NASDAQ:ERTS) that it has made an unsolicited conditional tender offer to acquire all of Take-Two’s outstanding shares of common stock for $26 per share in cash.
Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, Take-Two’s Board will review and consider EA’s offer, and within 10 business days, will advise Take-Two’s stockholders of the Board’s position regarding the offer as well as its reasons for that position.
Bear Stearns and Lehman Brothers are acting as financial advisors to Take-Two and Proskauer Rose LLP is acting as legal advisor.
March 13, 2008 at 6:27 pm | Business & Law |
March 15th, 2008 at 9:45 am
Hmmm…must have been half asleep when I wrote the title, should be Take-Two, lol.