EA terminates talks with Take-Two, ends buyout plans
Posted on 14 September 2008 by Erik
Electronic Arts has abandoned plans to absorb Grand Theft Auto IV publisher Take-Two Interactive, the company announced earlier today.
Following over half a year of hostile buyout offers by EA, the pair went into talks under a confidentiality agreement in late August.
From the official announcement:
“EA continues to have a high regard for Take-Two’s creative teams and products, [but] after careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software Inc., EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two.”
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