Take-Two Interactive, Inc. (TTWO)Take-Two board rejects EA's 'inadequate'...
Joystiq.com - March 26, 2008
Submitted by vGInfidel (150)
at 6:27AM PST on March 26, 2008
After reviewing EA's recent and "unsolicited" tender offer to nab shares in the Grand Theft Auto publisher at $26 a piece, Take-Two's board of directors has deemed the maneuver "inadequate in multiple respects and contrary to the best interests of Take-Two's stockholders." The board advises stockholders to hang on to their shares, claiming the offer "substantially undervalues" the company.