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FTC would have OK'd EA-Take Two merger

Federal government gives the merger its nod of approval, but Electronic Arts let its bid for Take Two expire earlier this week.

The federal government would not have stood in the way of an Electronic Arts-Take Two merger, according to documents published to the Federal Trade Commission Web site.

The FTC said it had conducted an investigation of a merger of the companies, but said no further action was required, and closed the investigation, Reuters reported Wednesday.

But the FTC's efforts appear to be moot at this point. After months of pursuing Take Two, EA allowed its hostile bid to expire Monday at midnight.

The video game publishing powerhouse's original $2 billion takeover offer was made in February, and Take Two declined the overture several times.

Take Two is coming off the most successful video game release ever, with Grand Theft Auto IV sales reaching $310 million on the first day alone.