It never ends! Electronic Arts’ “deadline” for their tender offer to Take-Two Interactive’s shareholders has come and gone — again — prompting EA to extend the deadline — again. Take-Two, in response, has advised its shareholders to remain firm and refuse the offer — again. Honestly, I could more or less copy and paste the last few stories at this point and just add new dates, but let’s pretend this is still a new development.
The new offer moves the deadline out another month, to June 16th, 2008. The price hasn’t changed, but EA did recently secure a nice fat loan, dubbed Project Braveheart, in order to make sure they have cash on hand to pay for your precious, precious Take-Two shares. Basically, this is just EA’s way of saying you should take all the time you need to make up your mind, and please don’t mind them circling overhead while you do.
Take-Two, in the meantime, is saying what they always have, calling EA’s offer “inadequate and contrary to the best interests of Take-Two’s stockholders,” according to a report by Next-Gen. Take-Two did have a few recent developments to back up its boast, of course, in the form of GTA’s broken records and the BioShock movie.
Anyone want to take an over/under on which month will be EA’s actual deadline for this offer? October? January? August of 2012? We’ll keep you posted in the meantime on every time EA says “and this time, we mean it.”
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July 21st, 2008 at 9:10 am
[...] You know the drill. [...]
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