Takeover News.

EA's most recent extension of their offer to buy Take Two Interactive for $25.74 per share was to expire earlier this morning, only to have the mega-publisher extend their offer, yet again, to June 16. Considering that stock of T2I is currently valued at $27.10 per s...



Lazard Capital's Colin Sebastian has just issued a note on last night's Electronic Arts financials stating that solid news on EA's much talked about (and generally detested) proposed buyout of Take Two can be expected by next Monday.



I'm not the only one disappointed by this news no doubt, but it seems that Take Two's major shareholders have finally buckled under the pressure of Electronic Art's constant hammering, and have finally accepted a complete company takeover by the industry giant.



After the recent siding of Take Two's shareholders with the company's board of directors, EA was denied purchase of the developer once again. Take Two utilized a "poison pill" type of manoeuvre, which basically allows for the shareholders a little more leeway to negotiate a higher purchase price.



Now this is what you call irony. Following on from Riccitiello public notice of Electronic Arts intentions to buy up famed Grand Theft Auto publishers Take Two, Take Two share price rose. By a lot.



Only a few hours ago, a news story that sent shockwaves through the North American game industry was revealed to the public gaming community. Industry giant Electronic Arts announced that it will soon acquire VG Holding Corp., owner of gaming developer BioWare/Pandemic.

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