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
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