EA give up on Take-Two
All previous offers had been rebuffed by Take-Two's board and after promised discussions collapsed, both firms have issued statements confirming that no more talks will go ahead.
"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," read a statement from EA, confirming the end of their overtures.
Take-Two also offer comment on the takeover situation.
"We remain focused on creating value for our stockholders and our consumers. This has been our goal since EA launched its conditional and unsolicited bid six months ago, a bid which was repeatedly rejected by our stockholders," adds a following statement from Take-Two chief Strauss Zelnick.
"As part of that commitment, we remain actively engaged in discussions with other parties in the context of our formal process to consider strategic alternatives. We’re especially proud of the success we’ve enjoyed over the past eighteen months and we remain confident in our ability to generate value for stockholders."
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