Short Take: GT, MicroProse call merger off

GT Interactive Software and MicroProse have terminated the definitive merger agreement they had announced in October. The companies said that both of their boards of directors unanimously and mutually agreed upon the decision, and that consequently there will be no break-up fees. The two companies said it no longer made sense to merge, but that they will continue to work together on marketing and distribution initiatives.

Dec. 5, 1997 3:05 p.m. PT

and MicroProse have terminated the definitive merger agreement they had announced in October. The companies said that both of their boards of directors unanimously and mutually agreed upon the decision, and that consequently there will be no break-up fees. The two companies said it no longer made sense to merge, but that they will continue to work together on marketing and distribution initiatives.