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 11/23/09 at 10:08am
Rodrigo Ybáñez García: http://tinyurl.com/ye6x9nv
Rodrigo Ybáñez García: http://tinyurl.com/ye6x9nv
Posted 11/23/09 at 10:08am
Rodrigo Ybáñez García: The very definition of "Lucky Shot":
Rodrigo Ybáñez García: The very definition of "Lucky Shot":
Posted 11/23/09 at 07:56am
DarkSaber: http://tinyurl.com/yl2vfw6 Here's the link, good for conspiracy theories.
DarkSaber: http://tinyurl.com/yl2vfw6 Here's the link, good for conspiracy theories.
Posted 11/23/09 at 07:42am
JDKJ: Leaders never follow. Followers never lead.
JDKJ: Leaders never follow. Followers never lead.
Posted 11/23/09 at 06:48am
DarkSaber: Anyone been following this Hadley Climatic Research Centre server hack story?
DarkSaber: Anyone been following this Hadley Climatic Research Centre server hack story?
Posted 11/22/09 at 11:48pm
ZippyDSMlee: AE:they feeding you well? I am enjoying win7 and heading to bed...uhg I need to get up early and start back to cleaning/painting blahg >< need tog et stuff done befor thanksgiving....
ZippyDSMlee: AE:they feeding you well? I am enjoying win7 and heading to bed...uhg I need to get up early and start back to cleaning/painting blahg >< need tog et stuff done befor thanksgiving....
Posted 11/22/09 at 11:41pm
Andrew Eisen: Just got home from an eight hour recording session at Capitol Records. A lot of fun but damn exhausting.
Andrew Eisen: Just got home from an eight hour recording session at Capitol Records. A lot of fun but damn exhausting.
Posted 11/22/09 at 08:44pm
BearDogg-X: 10 N. O. Who Dat?
BearDogg-X: 10 N. O. Who Dat?
Posted 11/22/09 at 09:45am
ZippyDSMlee: JD:I think doc phill is still sout about the break up with his wife he dose not fill holes as much as make them bigger these day
ZippyDSMlee: JD:I think doc phill is still sout about the break up with his wife he dose not fill holes as much as make them bigger these day
Posted 11/22/09 at 12:06am
JDKJ: You should get Phil McCraken to help you spackle those banisters.
JDKJ: You should get Phil McCraken to help you spackle those banisters.
Posted 11/21/09 at 11:57pm
ZippyDSMlee: Oh in the pirate hunter article I need my song ieda heckled DS,JD,Beemon sic im !!!
ZippyDSMlee: Oh in the pirate hunter article I need my song ieda heckled DS,JD,Beemon sic im !!!
Posted 11/21/09 at 11:56pm
ZippyDSMlee: JD:no I am tried from prepping the banisters for painting , worked on them from 12 to 4 and 6 to 8...after I got back from the store...got up early got ready...blah...been up all day..I need a nap...
ZippyDSMlee: JD:no I am tried from prepping the banisters for painting , worked on them from 12 to 4 and 6 to 8...after I got back from the store...got up early got ready...blah...been up all day..I need a nap...
Posted 11/21/09 at 11:42pm
JDKJ: No. You gonna stay up late tonight soldering?
JDKJ: No. You gonna stay up late tonight soldering?
Posted 11/21/09 at 11:41pm
ZippyDSMlee: JDKJ:Don't you mean Mctite?
ZippyDSMlee: JDKJ:Don't you mean Mctite?
Posted 11/21/09 at 11:33pm
JDKJ: @Zip: Neil, Bob, and Lik McTaint. The McTaint brothers. LOL!!!
JDKJ: @Zip: Neil, Bob, and Lik McTaint. The McTaint brothers. LOL!!!
Posted 11/21/09 at 09:44pm
Flamespeak: I still think military personell, killing other military personell, on a military complex should be handled by military courts.
Flamespeak: I still think military personell, killing other military personell, on a military complex should be handled by military courts.
Posted 11/21/09 at 09:43pm
Flamespeak: I could see this a mixture of the two charges rather than just one or the other.
Flamespeak: I could see this a mixture of the two charges rather than just one or the other.
Posted 11/21/09 at 09:43pm
Flamespeak: I think this was mainly a person who snapped, but evidence is showing he definitely had strong inlinations to islamic-extremism.
Flamespeak: I think this was mainly a person who snapped, but evidence is showing he definitely had strong inlinations to islamic-extremism.
Posted 11/21/09 at 09:41pm
Flamespeak: People are trying to claim that Hasan's actions were not terrorism. I don't jump on the 'terror train' like others, however
Flamespeak: People are trying to claim that Hasan's actions were not terrorism. I don't jump on the 'terror train' like others, however
Posted 11/21/09 at 09:38pm
mentor07825: Britain certainly does deserve it! And the French! God damn it, it was a hand ball!!!
mentor07825: Britain certainly does deserve it! And the French! God damn it, it was a hand ball!!!
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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!