Electronic Arts presses Take-Two to accept buyout
The video game maker takes its offer of $26 a share directly to its rival’s shareholders.
Electronic Arts Inc. turned up the heat Thursday on its $2-billion buyout offer for Take-Two Interactive Software Inc., taking its cash offer directly to Take-Two’s shareholders after the company’s board rejected the bid as insufficient.
EA’s effort to do an end run around Take-Two’s management came after months of frustrated negotiations to buy the New York company, which publishes video games such as "BioShock," "Civilization" and "Grand Theft Auto," a franchise that has racked up more than $3 billion in sales in the last 10 years.
