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May 20th, 2008 @ 18:14
UBS analyst Benjamin Schachter said this morning that EA is likely to succeed in acquiring Take-Two and that a bid in the $26-$28 range should seal the deal.
The analyst added, however, that “the timing may be protracted,” and while the stock is trading above the current bid price of $25.74 a share, “this is based more on deal speculation than underlying value.”
EA has now extended its tender offer on Take-Two after it’s previous bid ran out of time on Friday.
More here.
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