Electronics Arts Inc. extended its tender offer for rival Take-Two Interactive Software Inc. by four weeks but lowered its offer price to $25.74 a share, drawing out a standoff between the two videogame publishers.
Electronics Art said it lowered its $26-a-share offer in order to reflect dilution from additional shares to be issued to Take-Two's management following a shareholder vote Thursday. EA's previous offer was set to expire at midnight Friday. Read more on this story....
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