Predictably, Take-Two’s GTA IV has generated tons of hype (and presumably lots of sales). But Take-Two (TTWO) is counting on GTA to lift the price of its shares high enough to force Electronic Arts (ERTS) to raise its bid significantly or walk away. And so far that hasn’t happened. TTWO started Tuesday morning at $26.70; it closed at $26.63.
That the price is still above Electronic Arts’ offer of $25.74, but we’re pretty sure ERTS would be happy to shell out a few more dollars for TTWO. And if investors don’t bid up shares soon, EA should be able to get the deal done.
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