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Don't sell, Take-Two tells shareholders

Reckon it's best to ignore EA's offer for now.

Take-Two's board of directors has recommended its shareholders should ignore Electronic Arts' offer to buy their stock.

EA is offering USD 26 per share in a deal worth a total of USD 2 billion.

"This is a great opportunity for Take-Two shareholders," said silver-haired EA boss John Riccitiello, but then he would.

"For EA shareholders, the combination would add additional intellectual properties to our already strong portfolio, and welcome Take-Two's talent and creative teams to the great development organisation we've built at EA."

Now just hang on a minute, said Take-Two. In a statement the board of directors recommended "that Take-Two stockholders take no action at this time in response to the announcement by Electronic Arts".

The board will "review and consider EA's offer" and let shareholders know its thoughts within 10 business days.

Take-Two turned down an offer EA made on the same terms earlier this month.

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About the Author

Ellie Gibson avatar

Ellie Gibson

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Ellie spent nearly a decade working at Eurogamer, specialising in hard-hitting executive interviews and nob jokes. These days she does a comedy show and podcast. She pops back now and again to write the odd article and steal our biscuits.

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