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EA and TakeTwo: The Neverending Story?

EA and TakeTwo: The Neverending Story?

— Knurrunkulus on June 17, 2008 - 16:11.
Last updated on June 17, 2008 - 19:38.
EA_TakeTwo_logos (1).jpg
Germany — 

As GamersGlobal readers know since we first reported about it in February this year, EA would really like to acquire Take-Two Interactive. But Take-Two apparently feels pretty good by sitting on the cash that GTA IV just brought in all on its own, which is why they didn't agree to EA's offer up to now. Not a turn-off for EA at all, as it seems. They probably like the thought about the GTA franchise and the money it could give them just as well and extended their offer several times already. The last of those deadlines just ended today. Wait: did I just say the last of those deadlines? Silly me.

Electronic Arts Inc. [...] announced today that it has extended its tender offer for all of the currently outstanding shares of common stock (including the associated preferred stock purchase rights) of Take-Two Interactive Software Inc. ("Take-Two") (NASDAQ:TTWO) to 11:59 p.m., New York City time, on July 18, 2008, unless further extended. [...] "Our offer price remains unchanged at $25.74 per share, which is a substantial premium to where Take-Two's stock was trading prior to our offer," said Owen Mahoney, Senior Vice President of EA Corporate Development. "We congratulate Rockstar on the successful launch of GTA IV but believe our offer reflects a full and fair price based on the long-term value of Take-Two's entire operation."

Oh come on, Take-Two. Just kiss the girl ... erm, sorry. Wrong movie. Head over to Joystiq to read a humourous take on the romance. And could someone please call Atreyu? He's experienced in neverending storys. Probably he can handle this.

Newest rumour: The Duke will come out before EA's offer ends. In 2011, that is. Just kidding?

—  
 Knurrunkulus
 
on June 17, 2008 - 16:11
—  
Last updated on June 17, 2008 - 19:38
152 points
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Starkiller
1095 EXP -
June 18, 2008 - 12:29 #

I'm sure the shareholders of Take Two do not just disapprove per se, if EA would offer 32, or even 35$ per share instead of 26$, then they would all agree without hesitation, it's all about the money :-)

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