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EA plans tender offer for Take-Two: source
SAN FRANCISCO (Reuters) - Electronic Arts Inc <ERTS.O> plans to make a $26-a-share tender offer for all outstanding shares of rival video game publisher Take-Two Interactive Software Inc <TTWO.O>, following its rejection of EA's unsolicited offer at the same price last month, according to a person familiar with the matter.
EA's tender offer will expire on the midnight of April 11, 2008, but could be extended, this person said.
Take-Two, which publishes the blockbuster Grand Theft Auto game, had rejected EA's offer as too low and ill-timed.