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ea bid for take two

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ea bid for take two

Waitin' Until Friday: Where Things Stand On EA-T2

The deadline for Electronic Arts' bid to acquire Take-Two is this Friday, May 16th, so we thought it'd be a good time to review what we've learned so far to see where things currently stand.

First off, there's no shame in being the type whose eyes glaze over every time you hear something to do with "the market" or "analysts" or "diluted shares," and since this ongoing saga contains these phrases at several junctions, you may want to start with the easy, albeit detailed, summary of the whole works we recently wrote for you.

Still with me? Hit the jump for your handy roundup of our recent coverage:

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4:20 PM on Wed May 14 2008
By Leigh Alexander
1,916 views, 26 comments

ea bid for take two

EA Takes Out $1 Billion Loan For Take-Two Acquisition

SEC filings have revealed that Electronic Arts borrowed $1 billion from Morgan Stanley and other lenders to help finance a possible acquisition of Take-Two.

"There's no news here," said EA VP of communications Jeff Brown. "This is just a process point on something we announced in February."

With $2.3 billion on hand in cash, cash equivalents and short-term investments, EA already has the funds available to do the deal as it currently stands. With the deal not contingent on financing, why borrow more money?

"It helps us maintain maximum flexibility for any opportunities," said Brown.

Take-Two had no comment as of press time.

4:00 PM on Fri May 9 2008
By Leigh Alexander
6,027 views, 73 comments