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Other Companies Reported To Be Eyeing Take-Two

| 29 Feb 2008 16:12
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Electronic Arts isn't the only company giving Take-Two the eyeball, according to a new SEC filing.

The document was filed with the SEC as part of the lead-up to the company's annual shareholder meeting on April 10. In it, Take-Two indicated it has received informal inquiries regarding interest in mergers or takeovers since the highly-publicized EA offer. "From time to time the Company receives, and since the issuance of the press release by EA the Company has received, informal indications of interest in a business combination," the filing said.

But the company also pointed out that no definitive action had been taken in pursuing a merger strategy, with EA or anyone else. "The Company has not received any written "Offers" (as defined in the Management Agreement) and has not engaged in any substantive discussions with any party (including EA) with respect to a business combination," it said.

However, the likelihood of a merger or buyout agreement with Take-Two that doesn't involve EA is debatable at best; while EA's initial offer was rejected by the Take-Two board of directors as undervalued, few other companies have the resources to match or better the offer.

Disclosure(s): Strauss Zelnick, Chief Executive Officer and Chairman of the Board of Directors of Take-Two Interactive Software, Inc., is the head of ZelnickMedia, an investor in both Take-Two and Defy Media, LLC, our parent company. This article was published without approval or consent of ZelnickMedia or Take-Two.
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