EA Agrees to Hold Off on Take-Two Acquisition

By
james
 – June 4, 2008Posted in:

“On April 16, 2008, Electronic Arts received from the FTC a request for additional information (the “ Second Request” ) under the HSR Act in connection with the purchase of Shares pursuant to the Offer and the Merger. On June 3, 2008, Parent entered into an agreement with the FTC modifying the scope of Second Request, pursuant to which, among other things, Parent agreed that it would not consummate the acquisition of the Company until the earlier of (i) 45 days following substantial compliance with the Second Request or (ii) written notice from the FTC closing the investigation.”

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