The reason given for the latest extension seems to have less to do with virtuous patience and more to do with those pesky US Federal Trade Commission guys snooping around. "Extending our offer will allow the FTC review process to continue," said Owen Mahoney, Senior Vice President of EA Corporate Development, who added that the $25.74-per-share offer remained unchanged. The FTC sent EA a second request for information regarding the proposed takeover back in April.
Take-Two's Chairman of the Board, Strauss Zelnick, reiterated that the offer was inadequate and continued to advise stockholders to hold on while buyout discussions with "interested parties" continue.
Read -- EA announcement
Read -- Take-Two's response