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."