SEPT. 14, 2008 • With the fall selling season fast approaching, Electronic Arts announced that it was breaking off takeover talks with Take-Two after careful consideration of the latter’s management presentation and due-diligence materials.
Impact: The soap opera appears to finally be over for the time being. However, EA was offering $26 a share and as of 9/22/08, Take- Two (NASDAQ: TTWO) was trading at $16.50 a share. Clearly if Electronic Arts was to comeback with another offer, shareholders may still be very interested.
