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EA Secures $1 Billion Loan For Take-Two Acquisition
by Rainier on May 10, 2008 @ 12:41 a.m. PDT
A recent SEC filing reveals that Electronic Arts has arranged an agreement with Morgan Stanley, BNP Paribas, The Bank of Nova Scotia and KeyBank National Association for a whopping $1 billion in case it needs the funds to acquire Grand Theft Auto publisher Take-Two. EA initially made a $2 billion offer, which Take Two turned down, so these funds may be used to raise the offer now that GTA's $500 million first-week revenue has surely increased the company's overall value. The multibank agreement gives EA access to the funds until Jan. 9, 2009.
A recent SEC filing reveals that Electronic Arts has arranged an agreement with Morgan Stanley, BNP Paribas, The Bank of Nova Scotia and KeyBank National Association for a whopping $1 billion in case it needs the funds to acquire Grand Theft Auto publisher Take-Two. EA initially made a $2 billion offer, which Take Two turned down, so these funds may be used to raise the offer now that GTA's $500 million first-week revenue has surely increased the company's overall value. The multibank agreement gives EA access to the funds until Jan. 9, 2009.
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