EA Offers $2B for Take-Two

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News Posted: Sun, Feb 24 2008 3:44 PM

Shades of another takeover we've been discussing lately.  Electronic Arts announced Sunday they have made a $2B cash offer for Take-Two Games, best known for "Grand Theft Auto."

U.S. video game publisher Electronic Arts Inc said on Sunday it wants to buy rival Take-Two Interactive Software Inc, best known for its "Grand Theft Auto" title, for about $2.0 billion in cash.

The $26-per-share offer by Electronic Arts, publisher of blockbuster games like "Madden" and "Need for Speed," represents a 50 percent premium to Take Two's Friday closing stock price of $17.36.

The offer follows months of speculation that Take-Two would be acquired by a major games publisher or media publisher. Take-Two rejected EA's offer, calling it "inadequate," and valued the company at a "significant discount" to peers.


Yes, you read that correctly.  Take-Two has already rejected the offer.  Hostile takeover, anyone?



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ice91785 replied on Sun, Feb 24 2008 3:51 PM
NOOO!!! I actually like take-two games....EA please don't ruin it...PLEASE?!?!

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^Bad_Boy^ replied on Sun, Feb 24 2008 7:26 PM
I'm also glad at Take-Two's answer :p

Dammit! What's My Age Again???

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Kamrooz replied on Sun, Feb 24 2008 9:13 PM

Man..I'm sick and tired of EA already. Get off everyone back, jesus....Are they trying to kill creativity and originality? Yes they may have apologized for their actions just a week or so ago in terms of pretty much destroying the creativity in companies they've taken over by the resignation of staff. Here's an example, I read a dif article that was more detailed..but can't find it on hand atm...

http://gaygamer.net/2008/02/ea_apologizes_for_being_ea.html 

For bioware, glad they didn't mess with their process and enviornmental culture...But jeez, they want a complete monopoly on gaming pretty much. >_<... 

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Lev_Astov replied on Mon, Feb 25 2008 7:07 AM
I really loath EA. They have ruined so many good games and developers all in the name of more money. I'm really afraid of how they will affect the future of gaming. It's pretty bleak.

><((((">Lev Astov

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^Bad_Boy^ replied on Mon, Feb 25 2008 9:11 AM
That Really is a Gay Website!!.. :S

"For boys who like boys who like joysticks!
And girls who like girls who like rumble packs!"

Dammit! What's My Age Again???

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Kamrooz replied on Tue, Feb 26 2008 5:56 AM

^Bad_Boy^:
That Really is a Gay Website!!.. :S

"For boys who like boys who like joysticks!
And girls who like girls who like rumble packs!"

 

ROFL...it isn't called gaygamer for nothing. BTW, it was just by accident I came across that site...It was the only google result I picked up that talked about it =P... 

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