Electronic Arts has made an offer to acquire Take-Two Interactive for approximately $2 billion, representing a 64 per cent premium over the company's 15 February closing price.
According to a company press release, EA's proposal was contained in a letter sent on February 19 by John Riccitiello to Strauss Zelnick. The Take-Two Board's rejection of the proposal caused EA to release the letter, bringing its proposal to the attention of all Take-Two shareholders.
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Source: Gamesindustry