FTC gives green-light for EA's Take-Two buyout

by Alexander Sliwinski { Aug 20th 2008 at 2:45PM }

The Federal Trade Commission has stated that it will not oppose EA's pursuit of Take-Two Interactive. Following an investigation, the government agency concluded that no antitrust issue will occur, but left the door open to "take further action as the public interest may require."

This means all systems are go for EA and Take-Two to come to some sort of amicable agreement over how to bring the companies together. If that doesn't work, EA will probably just go back to throwing money on the table until Take-Two is ready admit she can't deny the sugar.

Source - Closing Letter to one EA attorney
Source - Closing Letter to one Take-Two attorney

[Via GamePolitics]

Tags: breakingnews, buyout, ea, federal-trade-commission, ftc, take-two

Reader Comments (Page 1 of 1)

Vcize @ Aug 20th 2008 2:49PM

Too bad Take Two's not giving the green light. Too bad for EA, at least.

fwacce @ Aug 20th 2008 3:27PM

What the FTC should have done is investigated GameStop when they bought EBGames. Talk about a monopoly. EBGames was the only real competitor to GameStop, and now GameStop buys up all the little stores that threaten it.

paralipsis @ Aug 20th 2008 3:29PM

And too bad for me. I want Alpha Centauri 2, but without the merger the IP rights and the mind of the original game's creator will not be in the same place to make it happen.

Moorio - XBL: peacebyanymeans @ Aug 20th 2008 2:51PM

I don't really care if EA buys Take-Two.

They've been doing good will all the IPs they have, so I'm not worried about that.

Take-Two's sports games? That a different story. I might care if I liked sports games.

But I don't.

Duke @ Aug 20th 2008 2:56PM

Uh oh, first the pac man is after them, and now "The Man" is on their side!

Saail @ Aug 20th 2008 3:13PM

NOOOOOOOOOOOO!

Justin N. @ Aug 20th 2008 3:13PM

Clearly, nobody at the FTC is a gamer, otherwise they could/would see potential Anti-Trust issues in relation to sports titles.

However, I trust the 2K devs would split and create a new sports franchise if they felt EA was trying to 'Madden' them (No pun, really) or their 2K games.

tlarkin79 @ Aug 20th 2008 3:16PM

I just have a feeling that one company the size of EA + Take-Two wouldn't be in the consumers best interest. I'm still upset EA has exclusive rights to the NFL.

tifosiotaku @ Aug 20th 2008 3:57PM

If EA buys Take Two and kills Midnight Club in favor of further crappy Need for Speed titles, I'll be pissed.

iRobot @ Aug 20th 2008 3:57PM

EA Let it go!!! Damn! Take-Two doesn't want to get married. GET OVER IT, and move on! Jesus, EA is like a psycho Ex, who can't understand that it was good, but it's not anymore so it's time to break-up. (And don't say "it's business" -- because this analogical works exactly the same as any relationship)

You asked once, they said No. You asked twice, they said --- NO! So it's over NOW, move on.

nick @ Aug 20th 2008 4:15PM

is it me, or doesn't it seem a little odd that the government announced there is no anti-competitive issues if a merger were to take place PRIOR to any agreement of a merger?

I still say it's not in Take Two's best interested to be acquired by EA. And it will HURT EA financially in the immediate term to take on such an acquisition.

As far as anti-competitive, I think if a merger were announced, people or corporations could still voice concerns to the FTC, and frankly I'd be surprised if they didn't, assuming EA acquires Take Two's sports line. It would give EA rights to major sports franchises and were certainly be anticompetitive.

FTC, shame on you.

As far as Take Two being acquired by SOMEBODY, I think it's inevitable.

WorMzy @ Aug 20th 2008 5:50PM

Wow, EA just can't take a hint, can they? :|

Sarah @ Aug 21st 2008 2:57PM

I find that settling this amicably is impossible. Another interesting article with more background is here.

Sarah @ Aug 21st 2008 2:58PM

That is, here: http://www.atelier-us.com/media-entertainment/article/electronic-arts-to-takeover-take-two-or-not#more-708

JAY JAY @ Aug 22nd 2008 9:59AM

Bow down to master EA. BOW DOWN TO YOUR MASTER!

kevin @ Aug 22nd 2008 4:02PM

I HOPE FOR THE SAKE OF ALL GAMING HOUSE THAT ARE OUT THERE , THAT BEFORE THIS YEAR IS OVER EA GOES BELLY UP OR MAY IT SUFFER DRASTIC PRICE DROP IN IT STOCK , SO THAT WAY IT CAN & SEE HOW IT FEELS TO BE SWALLOWED UP WHOLE JUST CAUSE SOMEONE ELSE WANTS YOUR MONEY MAKING PRODUCT .THOSE ARE MY WISHES FOR EA .