Pachter: Take-Two to reject higher EA bid

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We all know about the EA and Take-Two Interactive takeover attempt by now, and the issue doesn't show any signs of slowing down. According to gaming industry watchbird Michael Pachter, Electronic Arts will be able to get an approval by the FTC within the next two months, and attempt to strike a deal with Take-Two with a higher offer. This offer will be shot down.

But of course, Pachter still holds his grim prediction that if Take-Two keeps on holding its fort (and keeping EA at bay), it won't be all roses for the company that came up with the groundbreaking Grand Theft Auto 4.  According to him, once Take-Two achieves its estimated 12 million copies for this year, the record would be "difficult to exceed next year."

So what's going to happen in the next few months? Here's Pachter's take on things: Ultimately, we think EA will make a deal happen...We believe that once EA walks away and no other bidders materialize, it will be able to allow all parties to cool their heels, and will be able to come back and complete the deal at a reasonable price.

What exactly is the mentioned "reasonable price"? Pachter said that Take-Two shareholders can expect a US 27.54 offer, two dollars higher than its current bid.