During yesterday's annual Take-Two stockholder meeting, chairman of the board, Strauss Zelnick, reiterated the "inadequate" nature of the offer, expressing that the company was worth more than $26 per share. "It just doesn't stack up," he said. EA, on the other hand, continues to insist "the offer price is full and fair," noting that as of 5:00PM EDT on April 17, 2008, 6,432,787 shares of Take-Two had been tendered in and not withdrawn from the tender offer.
What happens next? Who will make the next move? And just what is the FTC up to? Tune in next time for the not-at-all riveting continuation of: The Young & the Purchasable.