Newspaper wrap-up: Electronic Arts to make tender offer to Take-Two shareholders
Posted Mar 13th 2008 8:00AM by Laurie Pasternack
Filed under: Newspapers, Magazines, Google (GOOG), Electronic Arts (ERTS), Bear Stearns Cos (BSC)
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MAJOR PAPERS:
- Take-Two Interactive Software Inc (NASDAQ: TTWO) rejected Electronic Arts Inc's (NASDAQ: ERTS) unsolicited takeover offer as too low, and now EA is turning hostile, going directly to the shareholders to acquire all outstanding shares for $26 each, the same price originally offered to Take-Two, the Wall Street Journal reported.
- No one wants to see The Bear Stearns Companies Inc (NYSE: BSC), rumored to have liquidity problems, fail, but competitors and clients are being extra cautious, according to the Wall Street Journal.
- The credit crunch has hit three more funds, the Financial Times said. Drake Management, Global Opportunities Capital and Blue River Asset Management have all been forced to suspend investor withdrawals or close down after being faced by turmoil in the credit markets.
OTHER PAPERS:
- According to Tim Berners-Lee, the inventor of the World Wide Web, the UK Times reported that Google Inc (NASDAQ: GOOG) may eventually be superseded as the dominant Internet brand by a company that uses the power of next-generation Web technology.
Tags: Bear Stearns, BearStearns, Blue River Asset Management, BlueRiverAssetManagement, BSC, credit crunch, CreditCrunch, Drake MAnagement, DrakeManagement, EA, Electronic Arts, ElectronicArts, ERTS, Global Opportunities, GlobalOpportunities, GOOG, Google, hostile bid, HostileBid, Internet, Take-Two, Take-Two Interactive, Take-twoInteractive, TTWO, World Wide Web, WorldWideWeb
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