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 07/23/08 at 10:13pm
GRIZZAM PRIME: Lunatic: Nope. Ever fading if I'm not mistaken.
GRIZZAM PRIME: Lunatic: Nope. Ever fading if I'm not mistaken.
Posted 07/23/08 at 08:05pm
LuNaTiC: is there a way to view old shouts? sorry if its a noob question.
LuNaTiC: is there a way to view old shouts? sorry if its a noob question.
Posted 07/23/08 at 07:07pm
gamepolitics: momma didn't raise no sock puppet
gamepolitics: momma didn't raise no sock puppet
Posted 07/23/08 at 06:15pm
Rodrigo Ybáñez García: Jack is a repressed man. Don´t be surprised...
Rodrigo Ybáñez García: Jack is a repressed man. Don´t be surprised...
Posted 07/23/08 at 06:07pm
GryphonOsiris: So Jack admitted paying for gay porn... all I can say is wow... just wow...
GryphonOsiris: So Jack admitted paying for gay porn... all I can say is wow... just wow...
Posted 07/23/08 at 05:09pm
lumi: to the case, and he's been on 60 minutes once!
lumi: to the case, and he's been on 60 minutes once!
Posted 07/23/08 at 05:09pm
lumi: GP, you should mention you'll be filing a legal injunction against him if he doesn't comply. Phoenix Wright will be attached
lumi: GP, you should mention you'll be filing a legal injunction against him if he doesn't comply. Phoenix Wright will be attached
Posted 07/23/08 at 03:32pm
Alteffor: You should add a section to the site for anything Jack CC's to you. It's always entertaining to read the stuff he writes.
Alteffor: You should add a section to the site for anything Jack CC's to you. It's always entertaining to read the stuff he writes.
Posted 07/23/08 at 03:31pm
Matriculated: Does anyone know when the Supreme Court reaches their decission?
Matriculated: Does anyone know when the Supreme Court reaches their decission?
Posted 07/23/08 at 03:04pm
Freyar: I demand to see this letter! (Not that I have any grounds to demand on.)
Freyar: I demand to see this letter! (Not that I have any grounds to demand on.)
Posted 07/23/08 at 02:53pm
gamepolitics: JT called me a "sock puppet" in an e-mail to Hal Halpin... i gave him 24 hours to retract it, LOL
gamepolitics: JT called me a "sock puppet" in an e-mail to Hal Halpin... i gave him 24 hours to retract it, LOL
Posted 07/23/08 at 02:46pm
Haggard: Might want to take a look at what Anthony Horowitz wrote about GTA IV in the Telegraph, article seems to have been taken down
Haggard: Might want to take a look at what Anthony Horowitz wrote about GTA IV in the Telegraph, article seems to have been taken down
Posted 07/23/08 at 01:05pm
Silencets: Beutiful. I always did wonder about Jacko Wacko
Silencets: Beutiful. I always did wonder about Jacko Wacko
Posted 07/23/08 at 10:24am
Matriculated: So Jack (an anti-gay activist) PAYED for gay porn
Matriculated: So Jack (an anti-gay activist) PAYED for gay porn
Posted 07/23/08 at 10:22am
Matriculated: [i]...and purchased membership.[/i]
Matriculated: [i]...and purchased membership.[/i]
Posted 07/23/08 at 10:21am
Matriculated: [i] few months later, as part of his ongoing campaign against Kent, Thompson followed links to gay porn on Kent's website[/i]
Matriculated: [i] few months later, as part of his ongoing campaign against Kent, Thompson followed links to gay porn on Kent's website[/i]
Posted 07/23/08 at 07:40am
sortableturnip: Jack's at it again: http://blogs.miaminewtimes.com/riptide/2008/07/jack_thompson_faces_permanent.php
sortableturnip: Jack's at it again: http://blogs.miaminewtimes.com/riptide/2008/07/jack_thompson_faces_permanent.php
Posted 07/22/08 at 11:22pm
PHOENIXZERO: Ugh, that CNBC program "Play to Win" is it? Is on again...
PHOENIXZERO: Ugh, that CNBC program "Play to Win" is it? Is on again...
Posted 07/22/08 at 09:34pm
ZippyDSM: todayin zippy land:after spending 8 hours working on my AC unit yesterday it finally died today. theres go 300$ I don't have...tin trailers are ovens in the summer >>
ZippyDSM: todayin zippy land:after spending 8 hours working on my AC unit yesterday it finally died today. theres go 300$ I don't have...tin trailers are ovens in the summer >>
Posted 07/22/08 at 09:17pm
Cheater87: http://www.gameplanet.co.nz/news/132121.20080723.Saints-Row-2-uncensored-in-Australia/
Cheater87: http://www.gameplanet.co.nz/news/132121.20080723.Saints-Row-2-uncensored-in-Australia/
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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!
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