EA Finally Drops Bid to Acquire Take-Two

Paul_Lilly

It doesn't matter that you rarely, if ever, saw Scrappy-Doo get into a fight, because you always knew that given the chance, he'd be ready to throw down no matter who the opponent was. Apparently that same spunkiness doesn't translate into the tech industry. How many times did we hear about Microsoft promising a hostile takeover of Yahoo its demands weren't met? Skip ahead a few months and Microsoft is still Microsoft, while Yahoo is still Yahoo.

Now it's Electronic Arts who is backing down in its hostile takeover bid, who earlier this year took it unsolicited $2 billion bid public for rival game maker Take-Two Interactive, best known for the Grand Theft Auto series. EA tried unsuccessfully to buy Take-Two back in February for $26 per share, and after the offer was refused, EA tried its hand at strong-arming Take-Two with threats of a hostile bid, only to extend the deadline multiple times.

The hostile bid official ended in August, and now one month later, so too has EA's interest in the company. Perhaps Spore is doing better than the Amazon customer reviews would indicate ?

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