NEW YORK, May 22 (Reuters) - The chief executive of Electronic Arts ERTS.O bought nearly $1 million of his company’s stock a day after rival Take-Two Interactive Software again rejected the company’s takeover offer, according to a regulatory filing.
In a U.S. Securities and Exchange Commission filing John Riccitiello said he bought 20,000 shares on May 20 for prices ranging from $48.21 to $48.42 a share, for a total purchase price of about $967,400.
Take-Two Interactive Software Inc’s (TTWO.O) management again rejected Electronic Arts’ ERTS.O $2 billion takeover offer on May 19, after EA extended its public offer by a month without raising the price.
This was only the second time Riccitiello has bought shares of Electronic Arts on the open-market, according to insider-filing tracker InsiderScore. The first time was May 2007.
Electronic Arts shares, which were little changed on Thursday at $48.95, are down 16 percent year-to-date. (Reporting by Kristina Cooke; Editing by Tom Hals)