Deadline of EA’s Take-Two acquisition passes, neither firms comment

With all the ruckus caused by Electronic Art’s attempt to acquire Take-Two, you’d think that we’ll be hearing a lot about the issue once that deadline hits. But May 16 has come and gone, and we haven’t heard a peep about the fate of Take-Two Interactive. So what’s going on? Read more in the full article.

The May 16 deadline for shareholders to decide on the fate of Take-Two Interactive has already passed underneath our noses, but neither the T2 nor Electronic Arts have commented about EA’s takeover bid of the game publishing company.

Those who regularly check on this gaming industry development may remember that Electronic Arts released a statement that it is not in any way “desperate” to take over Take-Two, but have prepared a US$ 1billion loan for the possible acquisition. So what does this passed deadline mean for the firms involved?

“It is in (EA’s) court.,” Take-Two spokesperson Meg Maise said, after commenting that “there is nothing going on” between the two gaming companies. However, Electronic Arts wasn’t able to make any statements when asked about the issue.

The silence is surprising, however, taking into account the commotion EA’s sudden move to acquire Take-Two has caused. Many analysts, such as Colin Sebastian of Lazard Capital, even surmised that the gaming industry will see some developments about the Take-Two Interactive buyout attempt very soon. However, Sebastian said that the news will probably erupt on next week’s Monday, so let’s just wait until then.