Electronic Arts bid for Take-Two could turn hostile

Electronic Arts bid for Take-Two could turn hostile

Market sources claim that Electronic Arts is now planning to launch a tender offer for all outstanding shares of rival Take-Two Interactive Software.

This means that their earlier announced bid could now be turning into a hostile bid.

Take-Two had rejected that offer saying that it was too low. The offer came at a time when the company is preparing to launch GTA4 which is expected to become the biggest gaming title of the current year.

Take-Two spoke about GTA4: “Pre-orders for GTA are very firm and better than we expected internally.”