Skip to Content

AOL Games

EA makes all cash tender offer to purchase Take-Two


With Take-Two Executive Chairman Strauss Zelnick having thoroughly rejected EA's initial buyout offer, the Madden and Burnout publisher has redirected its corporate Katamari at Take-Two shareholders. EA has announced the commencement of a tender offer for all of the currently outstanding shares of common stock of Take-Two Interactive Software at $26 per share. Valued at approximately $2 billion, the offer reportedly represents a 64% premium over Take-Two's closing stock price on February 15, the company's last trading day before EA began its increasingly aggressive financial courtship. Compared to Wednesday's stock price, it constitutes a 4.4% premium.

Barring extension, the tender offer is good until midnight EST on Friday, April 11, 2008. EA CEO John Riccitiello described the offer as "a great opportunity for Take-Two shareholders" and as a a way to "maximize the value" of their investment. "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," he concluded.

Will shareholders deem this offer welcomed financial assistance or unwanted financial insistence? We'll have to wait and see.

Tags: Acquisition, BreakingNews, Buyout, EA, Riccitiello, Take-Two, TakeTwo, Zelnick

Reader Comments (Page 1 of 1)

Joystiq Features





Featured Galleries

Ghosts 'n Goblins: Gold Knights (iPhone)

Ghosts 'n Goblins: Gold Knights (iPhone)

Monster Rancher DS (11/10/09)

Monster Rancher DS (11/10/09)

Again (DS) (11/10/09)

Again (DS) (11/10/09)

Deadly Premonition (Xbox 360)

Deadly Premonition (Xbox 360)

Dawn of Heroes (DS)

Dawn of Heroes (DS)

ToeJam & Earl 4 concept art/pitch

ToeJam & Earl 4 concept art/pitch

Comet Crash

Comet Crash

Darksiders (11-06-09)

Darksiders (11-06-09)

Skate 3

Skate 3

 


Team Joystiq

 
Chris Grant
Editor-in-Chief, Email
James Ransom-Wiley
Managing Editor, Email
Ludwig Kietzmann
Senior Editor, Email
Andrew Yoon
East Coast Editor, Email
Randy Nelson
West Coast Editor, Email
Justin McElroy
Reviews Editor, Email
Justin Glow
Developer, Email

Joystiq Podcast

New episodes every Friday! Now playing: Joystiq Podcast 115, for Friday, Oct., 30.



Archive | RSS | iTunes

Autoblog

Urlesque

Download Squad

Engadget

Massively

Asylum

WoW

Engadget HD

Big Download