The WSJ thinks Electronic Arts (ERTS) will extend its tender offer for Take-Two Interactive (TTWO) yet again. The old offer, at $25.74, expired at midnight Friday; the WSJ expects that EA will have something to say by Monday morning.
That’s a reasonable bet, because at this point EA has two choices in front of it:
- Bump up its offer in hopes of swaying EA shareholders, who have pushed TTWO up to $27.10.
- Walk away — either because the company really doesn’t want to chase after TTWO, or because its convinced that shares will plummet once it pulls out, and it can re-engage down the line (sound familiar?)
Update: Yup, EA has extended the offer for another month.
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