Seriously, EA, We Reject That Offer

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News Posted: Wed, Mar 26 2008 8:02 AM

You'll recall that earlier this month Electronics Arts decided to take it's $26 /share offer directly to Take-Two Interactive shareholders, going hostile.

Take-Two Interactive Software Inc. told its shareholders not to back Electronic Arts Inc.'s $2 billion takeover offer but said it would begin a review of alternatives that may include a merger.

The videogame publisher of the blockbuster "Grand Theft Auto" franchise also adopted a 180-day poison pill that would kick in once an investor acquired a 20% stake in the company or anyone already above that threshold bought an additional 2% stake.

Electronic Arts began a tender March 13, and Take-Two said at the time it would give investors its opinion within 10 business days.


GTA launches on April 29th, and that is when Take-Two said " it would be open to discussions with third parties about potential combinations."  It had already given EA this "message" earlier.



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frg1 replied on Wed, Mar 26 2008 6:24 PM

i hope they stay separate 

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AjayD replied on Wed, Mar 26 2008 8:44 PM
It looks like Take-Two was insulted by EA's hostile takeover offer and seeks a more lucrative offer. Awaiting the release of GTA before begining discussions shows they expect impressive sales from it. I would assume EA will come back with a more attractive proposal, should GTA receive the favorable reception that's expected.

 

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ice91785 replied on Wed, Mar 26 2008 10:31 PM

EA is just like MS but strictly of the gaming world -- someone starts to do well  and they fly on in to try and take over. I used to like EA sports a lot but I wish we heard less and less about all these takeovers as they really aren't great for consumers anyway and it takes away from competition overall.

T2 makes pretty good games IMO and I do not see why they would want anyone to take them over -- perhaps a partnership would be beneficial however?

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That's very,very good!

I hope they will not change their mind!EA seems to be in a buying spree these days! 

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EA tried to buy Take Two right before Grand Theft Auto 4.  What a bunch of opportunists.  And not in the good way.  They are gobbling up many fine companies.  I only hope development of great games isn't rushed or negatively influeced by the new EA overlords.  Take Two is wise to wait.  It could be a very bad thing if they aren't careful. 

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frg1 replied on Thu, Mar 27 2008 12:49 PM

personnaly i think they would ruin grand theft auto if they got in charge of take 2 

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I really hope that the GTA series will continue and will not be ruined by EA because till now it has been the most successful of its type. 

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werty316 replied on Fri, Mar 28 2008 4:00 PM

As soon as EA touches the GTA series it'll turn sour like mose of EA's games.

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