EA drops bid for Take-Two
Electronic Arts Inc. said on Sunday that it abandoned its unsolicited $2 billion bid to buy Take-Two Interactive Software Inc.
Redwood City-based EA (NASDAQ:ERTS) launched its bid in February and had said it was crucial to its $25.74 bid that it be able to integrate Take-Two (NASDAQ:TTWO) into its portfolio by the holiday season
The deal appeared to fall apart last month, but confidential discussions continued until this weekend cashadvance.