EA says has complied with FTC request on Take-Two

By Anupreeta Das

SAN FRANCISCO (Reuters) - Video game publisher Electronic Arts Inc (ERTS.O) said on Tuesday it complied with a regulator's request for more information on its Take-Two Interactive Software Inc (TTWO.O) bid, moving a step closer to buying its rival.

The U.S. Federal Trade Commission, which is reviewing their potential merger on antitrust grounds, now has until August 21 to end its probe.

Last month, EA agreed with the FTC not to complete a deal with Take-Two before the regulator gave the go-ahead, or 45 days after the date of its "substantial compliance," whichever was earlier.

EA said in a regulatory filing it would now not proceed with its proposed $2 billion acquisition of Take-Two, publisher of the blockbuster "Grand Theft Auto" game, before August 21.

EA has reached out directly to Take-Two shareholders through a tender offer, which it has extended until July 18 because of the investigation.

Take-Two has rejected the offer as too low, and company spokeswoman Megan Maise said that position remains unchanged.

"We are considering any and all alternatives which will deliver greater value to stockholders than the current EA offer," Maise said in an e-mailed statement.

Shares of EA rose 3.5 percent in Nasdaq trading, while Take-Two shares rose 2 percent.