EA extends Take-Two’s deadline for the third time

Here we go again. Electronic Arts has extended Take-Two’s deadline to accept their US$ 2 billion offer to buy them out. Nope, they didn’t raise the price even after GTA 4′s ginormous success. Yep, Take-Two still thinks it’s way too cheap. More in the full article.

And the drama continues. After a brief period of silence following the passing of the second deadline, Electronic Arts has extended their offer to Take-Two Interactive to accept their US$ 2 billion to buy them out.

This is the third deadline imposed on Take-Two now. (If only my professor was as lenient with deadlines…) Take-Two continues to protest that the offer is still too low, undervaluing the worth of the company, considering the massive success of Grand Theft Auto 4 and the announced Bioshock movie.

EA remarked that the offer already took the success of GTA 4 into consideration with the offer. Perhaps they’re just not willing to dish out more cash? EA already did have to secure a loan of US$ 1 billion in preparation for the merger.

Via Associated Press