According to the ASSOCIATED PRESS, Electronic Arts and Take-Two Interactive are speaking privately, just a week after EA let the deadline for its $2 billion tender offer expire.
EA has offered $25.74 per share for Take-Two, publisher of the successful GRAND THEFT AUTO franchise, but Take-Two said the offer was too low. On Monday, the two companies signed confidentiality agreements, and the Federal Trade Commission last week cleared EA's old offer.
Shares of both companies did well this week "because they are talking," and could be closer to a deal, according to Wedbush Morgan analyst Michael Pachter.
Pachter expects the deal to be done either rat the current $25.74 price or a little higher.
Take-Two's sales for the last fiscal year, which ended in October, totaled $982 million. EA's total revenue was $3.67 billion for the year that ended March 31.
