EA Puts Deadline on Take Two Offer
EA Puts Deadline on Take Two Offer
March 13, 2008
The chess match between EA CEO John Riccitiello (right) and Take Two Chairman Strauss Zelnick (left) continues.In the latest move, Electronic Arts has placed an April 11th deadline on a tender offer to purchase shares of Grand Theft Auto publisher Take Two Interactive (TTWO), according to a Reuters report.
With Take Two's shareholder meeting scheduled for April 10th, the tender offer is clearly designed to make shareholders feel as if they are in a take it or leave it situation - which they could very well be.
Since EA went public with its desire to acquire T2, the GTA publisher's stock has shot up from about 17 and has hovered near EA's offering price of 26. As of this morning, TTWO is priced at 24.91. Said EA's Riccitiello:
This is a great opportunity for Take-Two shareholders. We believe Take-Two investors will see our tender offer as the best way to maximize the value of their investment...
This tender offer provides a clear process to complete the proposed transaction. For EA shareholders, the combination would add additional intellectual properties to our already strong portfolio and welcome Take-Two's talented creative teams to the great development organization we've built at EA.
Some major T2 stockholders have already reduced their positions in the company by selling at the share price premium generated by EA's acquisition bid.
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Posted 11/07/09 at 11:33pm
JDKJ: BREAKING: In photo-finish at the wire, House passes health care reform bill. Relatedly, in fit of pique, Austin Lewis kicks innocent dog.
JDKJ: BREAKING: In photo-finish at the wire, House passes health care reform bill. Relatedly, in fit of pique, Austin Lewis kicks innocent dog.
Posted 11/07/09 at 04:27pm
ZippyDSMlee: man I got alot of junk and dup files too >< god I need orginization...and no not the knee capping media mafia kind :P
ZippyDSMlee: man I got alot of junk and dup files too >< god I need orginization...and no not the knee capping media mafia kind :P
Posted 11/07/09 at 04:26pm
ZippyDSMlee: replaced :P
ZippyDSMlee: replaced :P
Posted 11/07/09 at 04:23pm
ZippyDSMlee: beemoh:hey its like 60GB porn,400GB anime 100GB games and crap I have took from all my DVDs, I hate waiting on dvds to install stuff..... oh and 40GB of my porn was in the found.000 folder...mostly corrupted.... least I got names of wut needs to be repa
ZippyDSMlee: beemoh:hey its like 60GB porn,400GB anime 100GB games and crap I have took from all my DVDs, I hate waiting on dvds to install stuff..... oh and 40GB of my porn was in the found.000 folder...mostly corrupted.... least I got names of wut needs to be repa
Posted 11/07/09 at 04:18pm
beemoh: @Zip: ...and you'd have to spend all that time re-downloading that porn?
beemoh: @Zip: ...and you'd have to spend all that time re-downloading that porn?
Posted 11/07/09 at 03:34pm
ZippyDSMlee: ggrrrrr......vista lost one of my hard drives and I had a heart attack thinking I lost 1TB of data....
ZippyDSMlee: ggrrrrr......vista lost one of my hard drives and I had a heart attack thinking I lost 1TB of data....
Posted 11/07/09 at 10:58am
JDKJ: Which could be explained by both (a) and (b).
JDKJ: Which could be explained by both (a) and (b).
Posted 11/07/09 at 10:56am
Austin_Lewis: JDKJ: You forgot C) the fact that, for some reason, every time he did something that would suggest he shouldn't be in the military, let alone an officer, higher ups ignored it or let it slide.
Austin_Lewis: JDKJ: You forgot C) the fact that, for some reason, every time he did something that would suggest he shouldn't be in the military, let alone an officer, higher ups ignored it or let it slide.
Posted 11/07/09 at 10:51am
JDKJ: Part of the problem is, I believe, that (a) the Army had a lot of time and money already invested in him and which they were unwilling to simply write-off and (b) an increasing need for the type of skills and services he provided.
JDKJ: Part of the problem is, I believe, that (a) the Army had a lot of time and money already invested in him and which they were unwilling to simply write-off and (b) an increasing need for the type of skills and services he provided.
Posted 11/07/09 at 10:48am
JDKJ: And that even if he was begging not to get cut loose, he was apparently a real good candidate for being cut loose, anyway.
JDKJ: And that even if he was begging not to get cut loose, he was apparently a real good candidate for being cut loose, anyway.
Posted 11/07/09 at 10:11am
JDKJ: @chada: And while Kennedy once noted that there's usually more than enough blame for everyone to get a slice, the possibility that the Army was unwilling to cut loose someone who was asking to get cut loose could be a factor.
JDKJ: @chada: And while Kennedy once noted that there's usually more than enough blame for everyone to get a slice, the possibility that the Army was unwilling to cut loose someone who was asking to get cut loose could be a factor.
Posted 11/07/09 at 10:07am
ZippyDSMlee: *noms on his feet*..nomnomnomnom*droooll* ...wuuutttttt uuu looking at?
ZippyDSMlee: *noms on his feet*..nomnomnomnom*droooll* ...wuuutttttt uuu looking at?
Posted 11/07/09 at 10:05am
JDKJ: I'm no psychologist, but I'm told that crazy people have a tendency to do crazy things.
JDKJ: I'm no psychologist, but I'm told that crazy people have a tendency to do crazy things.
Posted 11/07/09 at 10:03am
chadachada321: Whoops, was out of the convo for awhile. I do wonder what type of ammo he used etc, but the real issue is WHY he did it, not HOW
chadachada321: Whoops, was out of the convo for awhile. I do wonder what type of ammo he used etc, but the real issue is WHY he did it, not HOW
Posted 11/07/09 at 09:56am
JDKJ: But if it turns out that they actually did, they'll have Hell to pay.
JDKJ: But if it turns out that they actually did, they'll have Hell to pay.
Posted 11/07/09 at 09:45am
JDKJ: And I'd tend to rule out the possibilty of FN Herstal supplying restricted ammunition to someone merely because they're ordering it from a military base.
JDKJ: And I'd tend to rule out the possibilty of FN Herstal supplying restricted ammunition to someone merely because they're ordering it from a military base.
Posted 11/07/09 at 09:37am
JDKJ: I know you don't leave your gated community and get around much in dark alleys, so you may be surprised to learn that there's this thing called "the black market" where, if you've got enough money, ain't too much of anything which can't be bought.
JDKJ: I know you don't leave your gated community and get around much in dark alleys, so you may be surprised to learn that there's this thing called "the black market" where, if you've got enough money, ain't too much of anything which can't be bought.
Posted 11/07/09 at 09:36am
Austin_Lewis: Or, maybe he or someone else at the base ordered the SS190 from FN Herstal.
Austin_Lewis: Or, maybe he or someone else at the base ordered the SS190 from FN Herstal.
Posted 11/07/09 at 09:32am
Austin_Lewis: the hands of private owners. They run about 300 dollars minimum for a box of 50, and boxes of AP 5.7 are extremely scarce, mainly residing in the hands of Class III stores or individuals who for one reason or another got a demo box of it.
Austin_Lewis: the hands of private owners. They run about 300 dollars minimum for a box of 50, and boxes of AP 5.7 are extremely scarce, mainly residing in the hands of Class III stores or individuals who for one reason or another got a demo box of it.
Posted 11/07/09 at 09:30am
Austin_Lewis: There are other firearms that fire the 5.7. However, I too would like to know where he got the ammo and what kind was used. Maybe Hasan, planning not to live through this, went out and bought one the boxes of SS190 that are floating around in
Austin_Lewis: There are other firearms that fire the 5.7. However, I too would like to know where he got the ammo and what kind was used. Maybe Hasan, planning not to live through this, went out and bought one the boxes of SS190 that are floating around in
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Comments
@Ebonheart - Take Two shareholders will not be too bothered if the deal goes badly for EA... and the sad fact is that it won't. Even if all the devs leave, once EA own T2 they will basically own the ENTIRE sports genre...
And the sales from GTA4 will pay for the buyout... here's hoping that the shareholders realise the ENOURMOUS amount of money GTA4 WILL make. But EA will be constantly trying to convince them otherwise... even though actions like this should make them see the truth
It's not like Take Two is going to be any less attractive acquisition after April 11th than before it.
Don't sell. Please, please, please don't sell Rock* to EA.
Pretty Please?
Good Luck. Any smart investor would know not to sell until after then. But then again, if the game bombs (which seems highly unlikely) they may not get as sweet an offer.
Honestly, though, investors should do a little research. Or simply ask why EA is so gung-ho about aquiring TTWO's IP. Because it's worth more than they are offering.
GTAIV will top best seller lists, even if it's utter crap.
There is no way they'd want to work for EA. Its a pointless exercise, they are buying the franchises, and people know when franchises aren't the same people anymore.
Look at Championship Manager's sales in Europe when it was made by Sports Interactive, then look at them compared to Football Manager by Sports Interactive.... The fans go with the developers, not necessarily the brand name.
Look at Rock Band's success... Fans know who makes what game, even casual ones.
I repeat....
DO NOT SELL!
sadly it only works in high numbers, but boycotting ea games now would probably give EA a reason to sod off.
If TT gets bought, theirs no way I'm buying another EA game as long as I live.
Ea will still be begging for the deal even after April 11th, this is nothing more than a bluff.
Although on the plus side it will make them seem more desperate.
EA can't have that much confidence in their sports franchises anymore if they feel the need to eradicate competition rather than improve.
On a side note, at what point is EA going to be looked at for having a monopoly?
"He said games like Battlefield, Burnout, Need for Speed and Madden were franchises which were stronger following EA's purchase of the original development firms."
Anyone notice that all of those series' have ALSO gotten worse recently?
"He said concerns that EA's buyout would stifle innovation were unfounded and pointed to franchises and games that had improved after the firm had bought the original development talent.
"We worked collectively with Will Wright to create The Sims. When we bought Maxis, Sim City was selling 7 to 800,000 copies. "
Oh yes, The Sims, aka "The Game of Neverending Expansions So You Can Milk It Until It Dies". Also, Sim City Societies (I believe that's the name) was meh.
I hope if they're acquired in a hostile take over, many people will abstain from buying GTAIV. Its a major sacrifice, but our dollars are the only message those pigs understand. They havent seen a dime of mine in years and I dont plan on that changing. Its meant some major sacrifices, such as Rock Band, but Im standing by my view on this one.
If you absolutely cant resist.. By all means pirate the game. I'll endorse and condone it this time alone.
Go on you crazy kids. Pillage and Plunder EA just as they've been doing to us!