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Deadline of EA's Take-Two acquisition passes, no comments

Tyranitar24 | May 18, 2008 | News | Company 
The May 16th deadline for shareholders to determine what will happen to Take-Two Interactive has passed and neither T2 or EA have commented EA's takeover bid of the company. It is in (EA's) court.," T2 representative Meg Maise said, after saying "there is nothing going on" between the two companies. EA did not AFP requests for comment. While EA maintains it factored the predictable success of GTA: IV, analysts think it puts pressure on the world's largest video game maker to up the stake. T2 might have an additional advantage due to an announced deal with Universal Pictures to have Bioshock made into a movie directed by Gore Verbinski, who also directed the Pirates of the Caribbean trilogy.
A deadline for Take-Two Interactive Software shareholders to agree to a buyout by video game giant Electronic Arts has passed with neither firm commenting on the takeover bid's fate.
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EA took its two-billion-dollar offer directly to Take-Two shareholders after the board of directors rejected the bid.

"There is nothing going on right now," Take-Two spokeswoman Meg Maise said when asked about the status of the bid Friday afternoon. "It is in (EA's) court."

EA did not return AFP requests for comment.

While EA maintains it factored the predictable success of "GTA: IV" into its offer, analysts believe the game's superstar performance puts pressure on the world's largest video game maker to up the ante.

Take-Two might have additional leverage due to a freshly announced deal with Universal Pictures to have its "Bioshock" video game made into a movie directed by Gore Verbinski, who directed the "Pirates of the Caribbean" trilogy.
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    Final Blade | May 18, 2008
    Good, don't accept EA offer. You just got a shit load of money thanks to GTA4 opening week sales.

    I agree, the Bioshock movie should be awesome, since the PoTC Director is doing it.

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