EA Gives FTC More Time To Ponder Take-Two Takeover

Law360, New York (June 6, 2008, 12:00 AM EDT) -- Electronic Arts Inc.'s bid to take over Take-Two Interactive Software Inc. has been delayed again, this time by a one-two punch of the U.S. Federal Trade Commission's information submission request on Wednesday and Take-Two's own lukewarm response to the deal.

According to the company's recent Securities and Exchange Commission filing, EA and the FTC reached an agreement on June 3 to let the agency tweak its request for additional information about the buyout.

Under an agreement with the FTC, EA cannot complete its acquisition of Take-Two...
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