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EA hoping for quick Take-Two deal -CFO

Sun Feb 24, 2008 4:18pm EST
 
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SAN FRANCISCO, Feb 24 (Reuters) - Electronic Arts Inc (ERTS.O: Quote, Profile, Research) hopes to quickly reach a deal to buy Take-Two Interactive Software Inc (TTWO.O: Quote, Profile, Research) but is keeping its options open with regard to a hostile bid, Chief Financial Officer Warren Jenson said on Sunday.

Electronic Arts believes the purchase would be accretive to its bottom line at least by its 2010 fiscal year if it is able to close the deal by the year-end holidays, Jenson told Reuters in an interview.

"One reason we are offering the premium we are is that we want to close quickly to capture synergies," Jenson said. "To the extent it is delayed, it becomes less valuable."

Asked if EA would consider a hostile bid if Take-Two held firm in its rejection of its $26-per-share offer, Jenson said: "Our objective is to make this friendly deal but we have to keep all options open."

 

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