Electronic Arts (NSDQ: ERTS) will go hostile following the rejection of its bid by game publisher Take-Two: it plans a tender offer to acquire all of Take-Two's outstanding shares for $26 each, the price it offered the company last month, reports WSJ, citing sources. TT, the publisher of the blockbuster Grand Theft Auto game, said before that the offer as too low and ill-timed. It also said it has been approached by other potential acquirers since, but didn't name anyone. The EA tender offer is set to expire April 11 at midnight, unless extended.
By Rafat Ali