Tony Bevilacqua

GamePolitics.com is reporting on an acquisition proposal for Take Two that has now become public. In the proposal, EA is offering $26 per share for Take Two stock, a 60% premium over recent share prices. The value of the transaction is pegged at $2 billion.

An EA press release claims that it offered $26 per share for Take Two stock in a February 19th letter from EA CEO John Riccitiello (right) to T2 boss Strauss Zelnick (left). After Take Two management rejected EA’s offer, Riccitiello decided to appeal directly to T2 shareholders. The $26 offering price represents a better than 60% premium over recent T2 share prices.

Read the entire letter from John Riccitiello, CEO of Electronic Arts.

This entry was posted on Sunday, February 24th, 2008 at 1:01 pm and is filed under Gaming. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.