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Electronic Arts prepares US 1 billion extension for Take-Two acquisition
In fact, EA strict of late secured a US 1 billion debit for additional funding that will be used if ever the merger will push through on or before January 2009. The common knowledge deal of US 25.74 per share still stands, but for Take-Two Interactive, that amount isn’t bountiful considering the happiness of Rockstar North’s Grand Theft Auto 4 (Xbox 360, PlayStation 3).Apparently, EA managed to get their funding from several banks, which number among the Morgan Stanley Bank, the Bank of Nova Scotia, KeyBank National Association, and others. The clock’s ticking, and it’s slowly ticking down towards January 2009. The funds are meant “to provide a slug of the funds for the pitch and/or the Merger,” according to EA.Could that be someone else way of pressuring the Grand Theft Auto 4 publisher into taking EA’s deal? 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.