Take-Two Board advises stockholders to take no action for now

Lately, there’s been a lot of heat coming from Take-Two shareholders regarding Electronic Arts‘ new offer to buy out the company. However, in a recent press release, Take-Two’s Board of Directors have asked the company’s shareholders to take no action for now while they review EA’s offer. You can read further details about this decision in our full article.

In a recent press release, Take-Two Interactive‘s Board of Directors has asked stockholders to stay the flaming torches and pitchforks for now. This is in light of Electronic Arts‘ bold new offer of acquiring Take-Two Interactive at US$ 26 per share.

After consultations with Financial advisors Bear Stearns and Lehman Brothers and legal advisor Proskauer Rose LLP, the Board has informed shareholders that it will review and consider EA’s current offer. Shareholders will be advised of the Board’s decision within 10 business.

It was not discussed, however, whether they will respond positively to this new offer or otherwise. Keep coming back here at QJ.NET for more details on the results of this corporate ballet between the two companies.