SAN FRANCISCO, Sept 14 (Reuters) - Electronic Arts Inc said on Sunday it has ended talks to buy rival video game maker Take Two Interactive Software Inc, closing the door on a nearly seven-month battle to acquire the publisher of the blockbuster 'Grand Theft Auto' game.
EA's decision came after the two companies said in August they were negotiating privately about a potential deal.
EA's unsolicited offer for Take Two was worth $2 billion, or $25.74 a share, which Take Two rejected as inadequate.
EA dropped its hostile pursuit of Take Two in August, which in turn agreed to spell out its three-year product plans to its rival, but only in private.
'After careful consideration, including a management presentation ... EA has decided not to make a proposal to acquire Take Two and has terminated discussions with Take Two,' EA said in a statement.
(Reporting by Anupreeta Das; Editing by Andre Grenon) Keywords: TAKETWO ELECTRONICARTS/ tf.TFN-Europe_newsdesk@thomson.com ak COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
EA's decision came after the two companies said in August they were negotiating privately about a potential deal.
EA's unsolicited offer for Take Two was worth $2 billion, or $25.74 a share, which Take Two rejected as inadequate.
EA dropped its hostile pursuit of Take Two in August, which in turn agreed to spell out its three-year product plans to its rival, but only in private.
'After careful consideration, including a management presentation ... EA has decided not to make a proposal to acquire Take Two and has terminated discussions with Take Two,' EA said in a statement.
(Reporting by Anupreeta Das; Editing by Andre Grenon) Keywords: TAKETWO ELECTRONICARTS/ tf.TFN-Europe_newsdesk@thomson.com ak COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News