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EA to buy Take 2 (makers of GTA)



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evil_kenshin

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EA proposes to buy Take 2 for US$2 billion
And the consolidation continues.
Electronic Arts, the world's biggest third party publisher, has announced that it proposes to acquire Take Two Interactive in an all cash merger. The deal is for US$26 per share, a 64% premium over Take Two's current stock price, and an overall spend of US$2 billion for the makers of Grand Theft Auto.

The proposal was initially sent to the Board of Directors at Take-Two, who rejected the offer, but EA have now made the letter public to bring it to the attention of Take-Two shareholders. It has been rumoured for some time that Take Two were in a position for a takeover, with media giant with Viacom apparently linked with a US$1.5 billion deal, which EA has topped substantially and warned Take Two shareholders “There can be no certainty that in the future EA or any other buyer would pay the same high premium we are offering today.”

EA Chief Executive Officer John Riccitiello was quoted as saying “Our all-cash proposal is a unique opportunity for Take-Two shareholders to realize immediate value at a substantial premium, while creating long-term value for EA shareholders. Take-Two’s game designers would also benefit from EA’s financial resources, stable, game-focused management team, and strong global publishing capabilities.”

The deal is still on the burner, we'll let you know of any developments.


EA proposes to buy Take 2 for US$2 billion - PALGN News - Australia's PAL Gaming Network



darn, yet again these leaches wish to corrupt a company, and its basically blackmail (Take two themselves refused, and so EA showed the share owners the deal in a bid to basically threaten Take two) , i seriously hope this "deal" does not go through
 

Angel

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geez, Ea's just going around buying every company that has ever produced a game before.

what's next?

Future (?) headline said:
EA to buy Sony, Microsoft, and Nintendo in Mega Merger
 

digital gopher

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Rockstar's contract with Take Two ends this Fall, right? So the only reason this makes sense is to stop the 2K Sports line. I'm confused.
 

Tatsu

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EA: We are EA. You will be assimilated. Resistance is futile.
 

Johnny Stooge

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IGN says the deal has been refused.
Take Two says the timing is wrong, but they'll be happy to talk on April 30. The day after GTA IV's release.

Smart decision. Wait until you release the product that's bound to raise your stock prices, then enter acquisition talks. I wonder if EA will think it's worth it.
 

Blink Me

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oh god. the future gta games might only have like 10 missions before you complete the game fully. this could be bad.
 

chaywa

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oh god. the future gta games might only have like 10 missions before you complete the game fully. this could be bad.

fail business sense is fffffaaaaaaaaaaiiiiiiiiiillllllllll

Take 2 have taken the very sensible route on the matter, wait until the day in which share prices start to rise significantly and see whether a) the shareholders want a takeover or b) EA having to create a share price higher than that of what it is on 29th April...

Can't see this happening at all to be frank
 
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