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EA Withdraws Bid for Take-Two

This next one will come to relief to many, EA has withdrawn its very public battle to take over Grand Theft Auto publisher, Take-Two.

EA was looking to integrate many Take-Two brands into its slate for the holiday season. EA is notorious for its quick releases, and yearly retreads (read: any of the companies sports releases, Madden, NBA etc) with little or no innovation.

EA was looking to buy at $25.74 per share. Take-Two believes EA grossly undervalued the company, and his unfortunately still open for negotiations.

Buying Take-Two would also eliminate EA Sports’ biggest competitor, the oldest trick in the book, if you can’t keep up, just buy the competition.

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