Electronic Arts prepares US$ 1 billion loan for Take-Two acquisition

Posted May 9, 2008 at 4:08PM EST by QJ Staff

Listed in: News, Titles Tags: Electronic Arts, Morgan Stanley, Rockstar North, Take-Two Interactive

Electronic Arts may be not desperate in acquiring Take-Two, but they're already preparing for the big acquisition if in case it goes through. In fact, EA just recently secured a US$ 1 billion loan for additional funding that will be used if ever the merger will push through on or before January 2009.

The current deal of US$ 25.74 per share still stands, but for Take-Two Interactive, that amount isn't enough considering the success of Rockstar North's Grand Theft Auto 4 (Xbox 360, PlayStation 3).

Apparently, EA managed to get their funding from several banks, which include the Morgan Stanley Bank, the Bank of Nova Scotia, KeyBank National Association, and others. The funds are meant "to provide a portion of the funds for the Offer and/or the Merger," according to EA.

Could this be another way of pressuring the Grand Theft Auto 4 publisher into accepting EA's deal? The clock's ticking, and it's slowly ticking down towards January 2009.

Via Gamasutra

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why doesnt ea just give up, they are cry babies. they forced people to buy madden cuz they got pwnd by nfl 2k. if ea would make a madden thats not the first release with a few tweaks i would buy a madden but since they cant do that i wont buy a madden or any ea game sequel. madden 08 on ps2 is madden 01 with a bigger ball and online play, its the same game year in year out thats why i hate ea.

# .. — Dodo 2008-05-10 03:16

Didn't EA say only a few days ago they weren't desperate? Well they are not just desperate, they are pathetic.

# ...... — The Obsidian 2008-05-14 06:02

you know that thing where people say something thats not true?......yeah could be that "thing" XD

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Electronic Arts prepares US$ 1 billion loan for Take-Two acquisition

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