With the expiration date hanging over Electronic Arts Inc.' $2 billion unsolicited bid for Take-Two Interactive Software Inc., an analyst note from Lazard Capital Markets' Colin Sebastian has
video game bloggers speculating about the prospects of the offer.
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Sebastian issued a note Wednesday on EA's financial statement claiming new information regarding the offer would be forthcoming Monday. There is no indication whether EA will extend the expiration, up its bid or simply walk away come Monday. EA has already extended the offer deadline from April 30 to May 16.
In March, New York-based Take-Two rejected a $26 a share offer from EA and said it would not negotiate with any prospective buyer until after release of its "Grand Theft Auto IV" video game on April 29. Take-Two said the crime-themed video game sold 6 million units globally in its first week with an estimated retail value of more than $500 million. The shares continue to trade above the offer price closing Thursday, up 0.36 or 1.33% at $27.33 a share.
For more of my thoughts on the deal, watch Tech Confidential's latest Behind the Money video below. - Matthew Wurtzel
See TheDeal's: EA: Clock ticks for Take-Two
See Tech Confidential's: EA: 'We don't need Take-Two'
See Dealscape's: EA, Take-Two far apart on price
