February 11, 2009 2:27 PM
- Text
FTC Clears EA-Take-Two Merger; Up To Companies Now
(PaidContent.org)
This story was written by Rafat Ali.
The Federal Trade Commission has cleared Electronic Arts's (NSDQ: ERTS) merger bid for Take-Two Interactive, even though the two companies haven't agreed to anything yet despite EA going hostile. "Upon further review of this matter, it now appears that no additional action by the Commission is warranted at this time," the FTC said in letters sent to both companies. This may help the two parties come to some agreement soon, something that EA has been hoping for. Analysts expect EA to offer a revised bid for Take-Two following the FTC's decision, possibly even lower than $25.74 a share it re-offered earlier...and the companies confirmed they are still talking.
By Rafat Ali
The Federal Trade Commission has cleared Electronic Arts's (NSDQ: ERTS) merger bid for Take-Two Interactive, even though the two companies haven't agreed to anything yet despite EA going hostile. "Upon further review of this matter, it now appears that no additional action by the Commission is warranted at this time," the FTC said in letters sent to both companies. This may help the two parties come to some agreement soon, something that EA has been hoping for. Analysts expect EA to offer a revised bid for Take-Two following the FTC's decision, possibly even lower than $25.74 a share it re-offered earlier...and the companies confirmed they are still talking.
By Rafat Ali
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