Electronic Arts 2008 Annual Report Download - page 181
Download and view the complete annual report
Please find page 181 of the 2008 Electronic Arts annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171 -
172 -
173 -
174 -
175 -
176 -
177 -
178 -
179 -
180 -
181 -
182 -
183 -
184 -
185 -
186 -
187 -
188 -
189 -
190 -
191 -
192
-
193
-
194
-
195
-
196
 |
 |
Our common stock is traded on the NASDAQ Global Select Market under the symbol ERTS. The prices for
the common stock in the table above represent the high and low sales prices as reported on the NASDAQ
Global Select Market.
(20) PROPOSED ACQUISITION OF TAKE-TWO INTERACTIVE SOFTWARE, INC. AND RELATED
LINE OF CREDIT
On March 13, 2008, we commenced an unsolicited $26.00 per share cash tender offer for all of the outstanding
shares of Take-Two Interactive Software, Inc., a Delaware corporation (“Take-Two”), for a total purchase price
of approximately $2.1 billion. On April 18, 2008, we adjusted the purchase price in the cash tender offer to
$25.74 per share following the approval by Take-Two stockholders of amendments to Take-Two’s Incentive
Stock Plan, which would permit the issuance of additional shares of restricted stock to ZelnickMedia
Corporation pursuant to its management agreement with Take-Two. The total aggregate purchase price for
Take-Two did not change as a result of the adjustment to the per share purchase price in the tender offer. On
May 9, 2008, we received a commitment from certain financial institutions to provide us with up to $1.0 billion
of senior unsecured term loan financing at any time until January 9, 2009, to be used to provide a portion of
the funds for the offer and/or merger. We will be required to repay any funds we borrow under the term loan
facility, plus accrued interest, on the earlier of (a) 364 days from the date on which we initially borrow the
funds and (b) August 9, 2009. On May 19, 2008, we extended the expiration date of the tender offer until
June 16, 2008. We intend to pay for the Take-Two shares and related transaction fees and expenses with
internally available cash and borrowings under the term loan facility or other financing sources, which may be
available to us in the future.
(21) SUBSEQUENT EVENT
In April 2008, we entered into definitive agreements to acquire certain assets from Hands-On Mobile Inc. and
its affiliates relating to its Korean mobile games business based in Seoul, Korea. The purchase price to be paid
for the assets at closing will be approximately $29 million in cash. The acquisition is subject to customary
closing conditions and is expected to close during our first quarter of fiscal 2009.
Annual Report
105