EA to wait for FTC on Take-Two takeover

Electronic Arts has announced that it will not buy Take-Two just yet. The company has made an agreement with the Federal Trade Commission that it will wait until the FTC finishes its probe into the takeover proposal. More in the full article.

According to Reuters, EA has made an agreement with the FTC to refrain from buying Take-Two until either the FTC finishes its probe into EA’s takeover bid for Take-Two or 45 days pass after EA complies with an information request from the FTC.

Back in April, EA submitted the second information request to the FTC. At the time, the FTC commented that it still needed to review the proposal further.

Take-Two will be reporting its earnings for the quarter ending in April today. The earnings report may finally prompt EA to increase its US$ 2 billion offer, although the company has said in the past that their offer has already taken Grand Theft Auto 4‘s success into account.

Via Reuters