June 10 2008
Electronic Arts, Take Two sittin in a tree
Tagged Under : ea, electronic arts, FTC, SEC Filing, take two
Electronic Arts has agreed to wait on completing any potential acquisition of Take-Two until the Federal Trade Commission has completed its investigation of the possible merger, the company revealed today through an SEC filing.
Under the agreement, no transaction will be completed until the FTC has finished its probe, which can take up to 45 days instead of the customary 30.
“We’ve entered an agreement with the FTC to modify the scope,” said an EA spokesperson. “This is a normal part of the review process, which allows us to move through the review as expeditiously as possible while giving the FTC additional time in which to complete its full review and work.”
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