Electronic Arts again extends deadline to buy Take-Two, needs for more time for FTC review

Video game publisher Electronic Arts Inc. has again extended the deadline for its $2 billion tender offer to buy smaller rival Take-Two Interactive Software Inc. The offer now is scheduled to end at 11:59 p.m. EDT on Aug. 18 (0359 GMT on Aug. 19), an extension from this past Friday. EA said Monday it needed more time to allow regulators to continue their review. EA previously announced that it was in "substantial compliance" with the Federal Trade Commission's request for information about its proposed buyout of Take-Two. Based on its agreement with the FTC, EA said in a regulatory filing it will not close any acquisition until at least Aug. 21 or the FTC closes the investigation — whichever is earlier. EA is trying to buy Take-Two, best known for the popular "Grand Theft Auto" series of games, for $25.74 per share, or about... [read full story]