Electronic Arts: Take-Two offer would not be renewed today

Electronic Arts: Take-Two offer would not be renewed today

Videogame industry giant Electronic Arts has announced that they are not going to renew their acquisition offer for Take-Two Interactive Software.

They are not extending the offer once more as they believe that the merger could not possibly happen before the holiday season.

Take-Two has been rejecting repeated offers from EA saying that they were undervaluing their worth.

Take-Two is the company behind the massively popular and successful GTA videogame series. The latest in the series Grand Theft Auto IV broke several records at its launch.

Take-Two said in the statement: “Our board remains unwavering in its belief that EA’s unsolicited conditional tender offer of $25.74 per share was inadequate.”