Take-Two Interactive Software, Inc. Responds To Electronic Arts' Fifth Extension Of Tender Offer

WEBWIRE – Thursday, July 24, 2008 New York, NY— July 2008 — Take-Two Interactive Software, Inc. today responded to Electronic Arts Inc.’s announcement that it is extending for a fifth time its unsolicited conditional tender offer to acquire all of Take-Two’s outstanding shares. As reported by EA, only 11,741,339 of Take-Two’s outstanding shares, or approximately 15% of the total, tendered into EA’s offer as of 5:00 p.m. Eastern time on July 18, 2008. Strauss Zelnick, Chairman of Take-Two, said, "Take-Two’s Board continues to be 100% committed to maximizing stockholder value and remains unanimous in continuing to recommend that our stockholders not tender their shares to EA. We are fully engaged in a formal process to evaluate strategic alternatives that have the potential to deliver greater value than EA’s inadequate offer.... [read full story]