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FTC: EA's Take-Two Buyout Bid "In Compliance"

And...it continues.

In what would be one of the biggest moves in the industry's history, Electronic Arts continues its purchase pursuit of Take-Two Interactive and its multi-million dollar Grand Theft Auto franchise, and they took another step today. According to GameSpot, thanks to a filing this morning with the Securities and Exchange Commission, EA has revealed that they are "in substantial compliance" with the FTC's previous information requests. The FTC wanted to make sure that this potential buyout didn't violate US antitrust laws; remember that EA's only major rival in the sports realm - 2K Sports - would be absorbed by EA if this happens. The largest game publisher in the world already holds exclusive licensing rights from the NFL, NCAA and FIFA, and erasing 2K Sports means there's nothing left to stand in EA's way.

But the FTC sees no problem and is satisfied with the information they've acquired from EA, which means EA's $2 billion bid for Take-Two stays put, and will continue to stick beyond the July 18 deadline. They say no more action will be taken until August 21, and as of now, the $25.74/share offer would indeed make the shareholders money, as Take-Two shares are currently trading at $24.26. However, Take-Two has continued to reject EA's advances, and with GTAIV rocking the sales numbers, they may believe they're simply better off on their own. Then again, the lure of huge money could be too much in late August...

7/8/2008 Ben Dutka

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Comments (12 posts)

LCF
Tuesday, July 08, 2008 @ 1:36:33 PM
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Our government is retarded.This is so monopoly how can they NOT see it?

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StrategicGnomer
Tuesday, July 08, 2008 @ 3:48:36 PM

Colorblind. Too much green.

Last edited by StrategicGnomer on 7/8/2008 3:49:32 PM

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ThePoetRazel
Tuesday, July 08, 2008 @ 1:38:39 PM
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EA are getting desperate. lol
The term deadline doesn't seem to have any meaning to them.

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Jed
Tuesday, July 08, 2008 @ 2:06:27 PM
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Like EA doesnt already have a monopoly on football games. I hate hearing about this and hope it never happens.

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Bugzbunny109
Tuesday, July 08, 2008 @ 4:34:17 PM
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EA will keep trying, but with no success.

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Deleted User
Tuesday, July 08, 2008 @ 7:31:37 PM
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NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO

If EA doesn't stop all your base are oursing I'm going to find everyone who works for EA and chop their middle fingers off.

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Joema
Thursday, July 10, 2008 @ 8:01:10 PM

EA set us up the bomb

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Zapix
Tuesday, July 08, 2008 @ 8:54:04 PM
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likely going to end up being a 'hostile take over'. I'm sure once EA bumps up the price, the shareholders will give in. Just a matter of time now. Too bad really.

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Tatsujin
Tuesday, July 08, 2008 @ 9:49:22 PM
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IDGAF anymore... EA is gay, Take-2 is much better in quality than EA is... End of story. I just wish I can go up to the president of EA and just stick him in the face, stick him hard enough for him to fly out the window of his office... ugly ass bastard.

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LCF
Tuesday, July 08, 2008 @ 9:50:39 PM
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I actually thought that the FTC would kick EA in the ass for completely wiping out all competition in the football field.I perfer Visual Concept's models then Tiburon "stretched out midgets" models.VC models always looked more human.With no competition to make a great football exp. they now can let "The children of the suits" make the next Madden,meaning that if you have a parent,friend or just a great ass kisser with no professional background in game design,programming or coding these ppl will be learning through trial and error on the next Madden game(It's cheap labor, a virtual sweatshop if you will).Though Madden 2005 I think it was had the most ugliest cheerleaders I've ever seen period! I see it coming back ugh!

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Deleted User
Wednesday, July 09, 2008 @ 10:01:38 AM
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EA publishing GTA V that would be horible.

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faraga
Thursday, July 10, 2008 @ 1:20:39 PM
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i'm not going to buy a next gta if it's made by ea, gta is rockstar only!!!

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