Take-Two spent $11 million preventing EA takeover


Security and Exchange Commission filings by Take-Two reveal the publisher spent $11.1 million to keep Electronic Arts at bay during its seven-month-long takeover attempt. Gamespot reports that Take-Two incurred the costs during the "strategic review process" of the EA offer.

For better or worse for investors, Take-Two won its battle against EA and remains independent. Although, investors can't be too happy to see the stock they could have gotten $25.74 for during the EA offer currently trading around $8 per share*.

*In fairness, game stocks in general are down. Apparently something to do with an economic crisis.

[Via GameDaily]

This article was originally published on Joystiq.