EA makes all cash tender offer to purchase Take-Two
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.
Reader Comments (Page 1 of 1)
ThornedVenom (Harley Quinn Defense Force) @ Mar 13th 2008 7:06AM
Il faut resister les camarades, il faut resister.
Vive la Resistance!
honkyjesusownsu @ Mar 13th 2008 7:09AM
Oh, goody.
rv @ Mar 13th 2008 11:32AM
Basically, this is not an offer to the company, its an offer directly to the shareholders. There will be some that will take it. This way, EA will be taking stock in the company, just maybe not a voting minority. I believe, others may hold on tight. If I remember correctly, there was a large company that held 20% of take 2 stock. If they do get a voting majority, then they can elect their own board members, who will accept ea's offer. Really its up to the shareholders now.
embassy @ Mar 13th 2008 7:27AM
wow, EA must feel really threatend by the 2k sports and GTA franchises. they seem overly desperate and relentless.
horrible.
Aj Collins @ Mar 13th 2008 7:34AM
Dear EA,
No one likes you.
Sincerely,
Gamers Every Where
embassy @ Mar 13th 2008 7:41AM
P.S.
except for Bioware and Pandemic, they're Ok.
xoxo
NoHitHair @ Mar 13th 2008 3:20PM
EA Games... *whisper* We own everything.
Brucie B @ Mar 13th 2008 7:39AM
EA, SUK IT!
Nter @ Mar 13th 2008 7:42AM
-holds up pillow behind head-
LEAVE TAKETWO ALONE!!!!!!!!!!!! T_T
b33eazy @ Mar 13th 2008 7:50AM
This is good news! Now Xbox 360 owners never have to worry about R* exclusives they will go to both consoles from now on.So say good bye to those games that were exclusive so 360 will get a pot.
simcha @ Mar 13th 2008 8:21AM
b33eazy say good bye to that 360 gta exclusive content. EA will buy it out and release it on the PS3 to make a buck. Believe me when I say that this isn't good for anyone. Your going to see lower quality games being released simply for EA to line their pockets with. It's happened before and will happen again. Just wait and you'll see it with pandemic and bioware as well.
Demaar @ Mar 13th 2008 8:39AM
Yeah, except chances are Rockstar (if they were able) probably has some clause so they retain the rights to the GTA IP in the case of a buy out. I imagine it'd be up to them. Also depends on if there's a license involved in the episodic content, even if EA does get all rights to GTA through the buy out. Anything is possible, though.
TBH, I really hope this doesn't happen. I mean, I don't play any sports games, but lack of competition = bad.
Crono (NDF - Knight of the Old School) @ Mar 13th 2008 10:16AM
In a hostile takeover like this, I don't think there are ANY clauses.
Spin44 @ Mar 13th 2008 8:27AM
One sucky company merging with another equally sucky company!
Spin44 @ Mar 13th 2008 8:27AM
One sucky company merging with another equally sucky company?
ScottG13 @ Mar 13th 2008 9:03AM
Thank God. Anything to get that pompous waste of oxygen Zelnick out of our space. Have so many developers ever been so mismanaged by one guy?
He makes Riccitiello look like a genius.
ThePremierAssassin @ Mar 13th 2008 9:22AM
Its quite scary how desperate and determined EA is to takeover T2...
Honestly I'm a 360 fanboy...but this goes beyond fanboyism...
EA is not good for gamers as a whole and if this happens I truly fear for the industry as a whole. I hope T2 shareholders resist this crap...
propanol @ Mar 13th 2008 9:36AM
If you were a Take Two shareholder who'd watched his/her investment progressively decline in value over the last two years, would you have any incentive whatsoever to resist a 60%+ premium? This is a get-out-of-jail-for-free-card for them; a chance to get something out of an investment in a company seemingly headed for financial ruin, GTA4 not withstanding.
rv @ Mar 13th 2008 11:40AM
Its not much of a premium now. Take 2 is selling for 25.55 right now. The EA offer is $26. Thats only a 1.7% premium as of right now.
propanol @ Mar 13th 2008 9:24AM
It begins.
EA will have acquired Take Two soon enough.
Drunkard @ Mar 13th 2008 10:01AM
I don't like the idea of seeing a simpsons version of GTA in stores...its not out already is it?
Arturis @ Mar 13th 2008 12:27PM
http://en.wikipedia.org/wiki/Simpsons_hit_and_run
Bleu @ Mar 13th 2008 10:06AM
Please Take-Two dont let this happen becasue god forbid it does I already dont support anything EA so I would not be buying Rockstar games as well.
Organic_Shadow @ Mar 13th 2008 10:11AM
EA is just like Bush. It does all this stuff to even further prove of it's evilness and while we all point at it and take notice it just kind of smirks and says "nothing to see here..." and closes the curtain.
If all this mess doesn't show that EA cares nothing about games or gamers, and only cares about profits, shareholders, and it's dream of a games industry monopoly then I don't know what does.
Notice how through all of this they haven't once mentioned any reasons outside of financial/shareholders/profits/etc. as to why they want to buy Take-Two. Haven't even TRIED to act like "oh...ummm... yeah this will be good for the industry and gamers... or something" at all. NOTHING.
Some other big publisher please come save us. ANYONE except EA. Hell, I would even be okay with Midway or Ubisoft. :P
Andoru @ Mar 13th 2008 10:20AM
I really wish an asteroid would fall from the sky and obliterate EA headquarters before they gobble up every good developer and bring about a second video games crash a-la 1983.
Chyld989 @ Mar 13th 2008 3:12PM
Whatever happened to this:
http://www.joystiq.com/2008/02/08/dice-08-riccitiello-warns-against-consolidation-says-ea-blew/
Apparently he was just messing with our minds....