Filed under: Deals, Engagements

Video game publisher Electronic Arts (NASDAQ: ERTS) stated Friday it is extending its $2 billion hostile tender offer for rival Take-Two Interactive Software Inc. (NASDAQ: TTWO) by a week but made the offer conditional on the termination of a poison pill adopted by Take-Two’s board earlier this week.

EA said it is extending its tender offer to April 18 after the rival game maker pushed back the date of its annual meeting.

Take-Two delayed its annual meeting until April 17 and also adopted a “poison pill” shareholder rights plan to make the takeover more pricey for EA. At the time, Take-Two urged shareholders to reject the $2 billion buyout bid, saying the offer is just not high enough.

Continue reading at TechConfidential.com.

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This entry was posted on Wednesday, April 9th, 2008 at 2:06 pm and is filed under Engagements and Deals News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.