EA for the third time extended the duration of its proposals for the purchase of Take Two
Game publisher Electronic Arts for the third time extended the duration of its proposals for the purchase of the company Take Two Interactive. At this time as the deadline indicated sixteenth of June this year, reports GameSpot. An official cause of an extension of time indicated the need to give the U.S. Federal Trade Commission to complete an analysis of the legality proposed transaction.
Recall that February 19, EA still has proposed more than two billion dollars for Take-Two, but the last bosses thought this amount is not sufficient. The market value of one share Take-Two proposals on the date of purchase stood at just over 15 dollars. EA was ready to buy securities of the company at a price exceeding the market by 64% - for 26 dollars per share. However, as noted in its official circulation chap Take-Two Straus Zelnik, the EA do not realize the true value of Take-Two brands.
Then EA decided to try provernut transaction, bypassing the Board of Directors Take Two made the proposal and shareholders of companies directly. Manual Take-Two, in turn, asked the company's shareholders with a recommendation not to sell shares of publisher Electronic Arts. However, according to representatives of EA, to date publisher has already sold securities 6210261 Take Two, which is about 8% of the total number of shares of the company.
In response to the extension of the proposals on the purchase until June 16, Take Two leadership once again urged shareholders to remain calm and not to sell shares. It should be noted that April 18, EA reduced rate and are now ready to pay for each share Take Two no more than 25.74 U.S. dollars. In doing so, the market price of shares Take Two at the end of last week stood at 27.10 U.S. dollar.
According to the head of Take Two Zelnika Strauss, as promised earlier, after the release of GTA IV in late April, began publishing in negotiations with several interested parties about the possible sale of the company. Zelnik not named specific names, but stressed that EA is not the only company seeking to acquire Take Two.