Later today, Take-Two Interactive will hold its annual shareholders meeting, in which board members may or may not take Electronic Arts up on its $26 dollar-per-share buyout proposal. Regardless, the US Federal Trade Commission may step in to halt the merger before it can commence.
EA said today that it has received its second request for information from the FTC regarding its Take-Two takeover intentions. "While EA believes that its proposed transaction with Take-Two would not be anti-competitive, the FTC has not yet reached any conclusions regarding the proposed acquisition and has indicated that it needs further information and additional time to conduct its review," the publisher said in a succinct statement.
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