EA-Take Two news coming Monday

Posted May 14th, 2008 at 2:28 pm

Coming out of the EA financial call yesterday Lazard Capital’s Colin Sebastian has stated that an update to the buyout proposal of Take Two will be coming on Monday. The deadline that EA had set previously ends this Friday.

The current offer stands at $25.74 a share which amounts to just about 2 billion dollars. That is the same amount as was originally offered (though the price per share was lowered when Take Two increased the number of shares available). The TTWO stock sits just over $1 above that right now however that is being artificially held up due to the expectation of the EA buyout.

So what could this news be? Among the possibilities are Take Two accepting the current deal or a revised deal, EA raising their public offer, or EA withdrawing their offer (though it could simply be yet another extension to the deadline). Regardless it’ll be good to get some movement on this instead of the uncertainty continuing to just loom over everything.