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EA & Take-Two Negotiations End

Electronic Arts Terminates Discussions with Take-Two has word that the long-running courtship is over for EA and Take-Two, as Electronic Arts has walked away from their takeover negotiations. A specific reason is not named, but the stumbling block all along has been a failure to come to agreement over an appropriate stock price, and the article outlines the public history of these discussions. The possibility that negotiations could reopen is also mentioned. Take-Two Interactive Software, Inc. Comments on EA Announcement has a brief statement quoting Strauss Zelnick, Chairman of the Board of Take-Two indicating they are still looking for a suitable suitor: "We remain focused on creating value for our stockholders and our consumers. This has been our goal since EA launched its conditional and unsolicited bid six months ago, a bid which was repeatedly rejected by our stockholders. As part of that commitment, we remain actively engaged in discussions with other parties in the context of our formal process to consider strategic alternatives."

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