PS1 News: FTC Sends Second Anti-Competition Inquiry To Electronic Arts - PS1 News

Members Login: Register | Why sign up? | Forgot Password?

FTC Sends Second Anti-Competition Inquiry To Electronic Arts

Despite Take-Two's consistent refusals, Electronic Arts continues its attempt to acquire the rival publisher, in what can now only be described as a hostile takeover. However, EA has revealed that they've received a second request for anti-competition information from the U.S. Federal Trade Commission (FTC).

According to Gamasutra, EA believes that their proposed deal with Take-Two is in no way anti-competitive, but the FTC hasn't reached a decision on the matter just yet. Evidently, they need "further information and additional time to conduct its review" before reaching a conclusion. The deadline for EA's last offer to Take-Two ($26/share) expires at 11:59 p.m. EDT tomorrow, April 18, but although the deadline has already been moved once, EA said they could move it again if necessary. Take-Two caused the alteration of the original deadline by forming a Stockholders Rights act EA has called a "poison pill." As for the stockholders themselves, Gamasutra says the level of support for this proposed transaction is "unclear," but everything might get resolved at Take-Two's annual meeting today in New York.

In the recent past, most industry analysts have agreed that this deal will eventually go through, and EA will end up with the rights to franchises like Grand Theft Auto. However, many gamers are worried that this will change the blockbuster franchise for the worse, so we're getting a mixed bag of results. Either way, though, EA knows how to go where the money is...

4/17/2008 Ben Dutka

Put this on your webpage or blog:
Email this to a friend
Follow PSX Extreme on Twitter

Share on Twitter Share on Facebook Share on Google Share on MySpace Share on Delicious Share on Digg Share on Google Buzz Share via E-Mail Share via Tumblr Share via Posterous

New Comment System

Legacy Comment System (0 posts)

There are no comments to display.

Leave a Comment

Please login or register to leave a comment.

Latest Updates

Shadow of the Colossus Review
9d, 18h, 13m ago (2 comments)

Strikers Edge Review
13d, 18h, 53m ago (19 comments)

Okami HD Review
14d, 16h, 45m ago (6 comments)

Ultimate Chicken Horse Review
18d, 11h, 39m ago (16 comments)

Black Mirror Review
33d, 23h, 41m ago (23 comments)

Our Poll

How often do you visit the site?
Once a day
Several times a day
Every few days
Once a week
This is my first visit
I've never been here, even now I am not here

Previous Poll Results