June 15, 2013
Take-Two Proposal Extended Again

Video game maker Electronic Arts is giving competitor Take-Two another month to consider a buyout.

EA has just extended its $2 billion offer to the Grand Theft Auto developer. The proposed deal, which had expired Friday, will now remain open until June 16. EA says the delay is to allow the Federal Trade Commission to complete its review of the acquisition. This is the third time the deadline's been pushed back.

Take-Two isn't hiding the fact that it's in talks for a takeover, but the New York-based business may be holding out for a better offer. The company had indicated its successes with titles like Grand Theft Auto demonstrate a higher value than what EA is proposing. As such, executives are suggesting shareholders shoot down the offer, saying the proposal "undervalues [their] company."