EA Tender Offer Killed in Liberty City Hit and Run —

Electronic Arts’ highspeed pursuit of Take-Two Interactive Software and the bounties of its “Grand Theft Auto” franchise has ended in a set of flat tires. This morning EA allowed its $2 billion tender offer for the rival video game maker to expire. For a third time. In a letter to Take-Two Chairman Stuart Zelnick, EA CEO John Riccitello said he no longer believes EA can integrate Take-Two ahead of the this year’s all important holiday season. Which is presumably just fine with Zelnick, who has repeatedly bashed EA’s $25.74 a share bid as too low and its acquisition strategy as...
[Tags: acquisition strategy, bounties, ceo john, electronic arts, flat tires]