EA's announced today that it will not extend its fifth (read that, fifth) deadline to buy Take-Two after the current deadline lapses tonight, stating it doesn’t believe that it could integrate the firm in time for the Christmas rush if it continues any longer.

Take-Two shares fell nearly 6 percent in premarket trade to $23.38 after the news was announced earlier today.

EA has stated that it will see a three-year plan presentation from Take-Two, but that it's five-times-renewed tender offer will finally be dropped tonight, after almost half a year of trying to win over the company.

So I guess that's the end of that.

About time too.

Tags : buyout : electronic arts : Grand Theft Auto : Grand Theft Auto 4 : Grand Theft Auto IV : gta : gta4 : gtaiv : pc : PlayStation 3 : rockstar games : take two interactive : take-two : Xbox 360

Comments

By: Laylia

On: 12:12 Aug 18th, 2008
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I think that they finally took the hint.

By: Snake Plissken

On: 12:16 Aug 18th, 2008
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Bout bloody time they did, good grief how many times do you need a door slamming in your face.

well 5 it seems. XD

By: Kelz

On: 02:51 Aug 18th, 2008
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Finally

By: Dragonsoul

On: 03:10 Aug 18th, 2008
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Is it all possible that EA only meant to depreciate Take-Two's value by presenting them with bids they didn't mean to honor and/or didn't expect Take-Two to take? This isn't above companies who want to be destructive to each other or otherwise have a handle on the market control. I guess it depends on what EA was really after.

Whatever the case, at least this sorry saga is over now.

By: Evren

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On: 03:22 Aug 18th, 2008
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Hmmm,. well that took it's damn time.

Silly little EA.

By: Laylia

On: 07:49 Aug 19th, 2008
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Dragonsoul;57070

Is it all possible that EA only meant to depreciate Take-Two's value by presenting them with bids they didn't mean to honor and/or didn't expect Take-Two to take? This isn't above companies who want to be destructive to each other or otherwise have a handle on the market control. I guess it depends on what EA was really after.

I don't know, this could be true... But given that EA have said that they're stopping now because there won't be enough time to get in on the Christmas Market action, it sounds a lot more like they really wanted to invest. Maybe once Christmas is over, they'll start trying again?

*Shrugs* Who knows.

By: Glorin

On: 07:54 Aug 19th, 2008
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5th time's the charm.

By: Snake Plissken

On: 07:57 Aug 19th, 2008
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Laylia;57132

I don't know, this could be true... But given that EA have said that they're stopping now because there won't be enough time to get in on the Christmas Market action, it sounds a lot more like they really wanted to invest. Maybe once Christmas is over, they'll start trying again?

*Shrugs* Who knows.

Thats a good point maybe it's just a ploy letting them cool of and calm down while EA focuses on the christmas period then coming at them again with fresh offers for cooled off heads and maybe this drop in Take Two's shares is part of it.