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AP
Electronic Arts Offers $2B for Take-Two
Sunday February 24, 3:27 pm ET
Electronic Arts Offers to Buy Gaming Rival Take-Two Interactive for $2B, Despite Rebuffs
REDWOOD CITY, Calif. (AP) — Electronic Arts Inc. is pushing ahead with a bid to take over upstart gaming rival Take-Two Interactive Software Inc., despite rebuffs from the smaller company.EA said in a statement Sunday that it is making an all-cash bid of $26 per share, or about $2 billion, for New York-based Take-Two.
EA, the world’s largest independent video game publisher, says it’s releasing details of the proposal to get the attention of Take-Two shareholders after Take-Two’s board turned down the deal.
The offer represents a 64 percent premium over Take-Two’s closing stock price Feb. 15, the last trading day before Redwood City-based EA made its proposal.
