EA lowers Take-Two bid

April 20, 2008 Sales of video game hardware, software and paraphernalia are booming, but against this backdrop, Electronic Arts has lowered its per-share bid to acquire Take-Two Interactive Software. That's a victory of sorts for Take-Two, considering that Take-Two chairman Strauss Zelnick has insisted that negotiations for a sale of the company should take place after the April 29 launch of "Grand Theft Auto IV." The world's largest video game company has been trying for months to persuade Take-Two shareholders to accept its offer, but EA said Friday that only 6.4 million shares have been tendered its way, less than 9% of the float.

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