EA has been after Take-Two since late last year. The process went public in February with Take Two letting EA’s offer expire five times. Now, EA has finally given up on its attempts to acquire Take Two at around $25-26 per share. The deal would have been worth around $2 billion, however Take Two has held fast that the offer was too low.
It looks like EA is finally going to listen and take a second look. EA may be the world’s largest video game publisher, but having the Grand Theft Auto franchise (not to mention BioShock) would certainly be an impressive feather in its hat. Take-Two and EA expect to enter into a confidentiality agreement, formalizing the process to “evaluate strategic alternatives”.