EA Games to take over Take-Two Interactive but Take 2 say no chance

It looks like Take 2 is holding out for a better offer because they have said no to EA Games take offer bid. This is fun to read when you think about it because they are not content with acquiring VG Holdings but EA Games are still chasing after the games company Take-Two Interactive.

Apparently so far they have placed a $2 billion unsolicited bid but Take Two have declined, basically they said no chance because they are waiting on a higher possible offer and who can blame them.

To break this down in simple terms in where not to bore you to death EA Games proposal works like this, $26 per share in cash. Is that a lot many might ask? Well it is a lot when you take into account that a huge 64% over Take-Two’s closing stock price last Feb. 15th, the last trading day before EA sent over a revised proposal to Take-Two.

It is also a 63% premium if you compared to Take-Two’s trailing average price over the 30 trading days ending February 15th. EA did in fact offer $25 per share but this was not inviting enough for Take-Two.

To get the full low down on this take offer news please visit here.

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