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FTC gives EA its blessing to go ahead with Take-Two takeover

Posted Aug 21, 2008 at 11:15AM EST by Mabie A.

Listed in: Magazines, News Tags: Electronic Arts, FTC, Take-Two Interactive

The wait is finally over for Electronic Arts -- at least as far as the Fedral Trade Commission is concerned. A couple of months ago, EA made an agreement with the FTC stating that they will hold out on buying Take-Two until one of these two things happen: a) FTC finishes its investigation on the takeover bid, or b) 45 days pass after EA complies with an information request from FTC.

Well it looks like it's scenario A that happened as the Federal Trade Commission has now given EA the green light on their proposal for the Take-Two acquisition. The conclusion of the non-public investigation, which was to determine whether EA's acquisition of T2 may violoate Section 7 of the Clayton Act or Section 5 of the FTC Act, was that the potential merger would not substantially lessen competition in the games market.

A letter sent by the FTC to both companies involved read, "Upon further review of this matter, it now appears that no additional action by the Commission is warranted at this time. Accordingly, the investigation has been closed."

Talks are still going on between the two companies, but it does look like it's about to come to a close. What's keeping the debate raging on is the issue on the appropriate per-share asking price. With this FTC development, it looks like Pachter sure is a step closer to proving his prediction true: EA will win out this round.

Related EA-Take-Two acquisition Articles:

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Such a fantastic developer. They truly have made some really kickass games. From Bioshock to many of the 2K sports games, they have proven that they're a good developer. If EA ends up getting them, it really won't matter. It's not like there will be big changes.

Bioware is one of my favorite developers, but EA picked them up recently. Is Bioware now a bad developer? No way, there still Bioware.

I see this takeover as an advantage (if it happens I mean).

# Bzzzt Incorrect — icemann 2008-08-22 20:52

"they have proven that they're a good developer. If EA ends up getting them, it really won't matter. It's not like there will be big changes."

Have a read up on the effect than an EA take over had on Westwood and Origin. The changes that occured as soon as the take over occured were massive, and the companies were milked of all the good games they had, and only the most succesful of which continued onto see later sequels. The rest of the games became completely forgotten about.

# this is funny... — The Frenchman 2008-08-23 04:41

With the constant rejection on T2's part EA keeps going, it looks like they'll end up eating Take two without consent.

I hate EA...

# wtf — pspgamer4life 2008-08-24 04:34

So now EA is the king of sports games

# thanks — GW2 2008-08-27 00:18

i like being right. lol.

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