EA still game for Take-Two
FROM VARIETY: Electronic Arts takes plan to investors
By Ben Fritz of Variety -- Video Business, 2/26/2008
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FEB. 26 | FROM VARIETY: The battle for the future of Take-Two Interactive broke out Monday, as Electronic Arts took its $2 billion acquisition plan to investors but the Grand Theft Auto publisher's leadership team urged them to reject it.
EA held a conference call Monday morning to announce its intentions, with CEO John Riccitiello declaring that his "objective is to make this a friendly deal."
But that seems highly unlikely, given Take-Two's response.
After rejecting the bid as too low on Sunday, chairman Strauss Zelnick made clear how he felt about EA's public move on Monday.
"The time is wrong, and the value remains insufficient," he said in an interview. "The timing is out of our control now that this is in the public eye, but the fact remains that the value is woefully inadequate."
Read the full story on Variety.com.