Take-Two to EA on takeover bid: buzz off

wohoo | February 24, 2008 | News | Playstation 3 XBOX 360 Company

Take-Two has sent out a press release, responding to EA's takeover attempt, politely telling them to go away until GTA IV is on store shelves. T2 says GTAIV will increase the company's value and that EA is trying to buy cheaper before that happens.

Take-Two has issued a response to EA’s takeover bid and what they’re saying is pretty straightforward - EA’s offer is inadequate, unsolicited and opportunistic. The way Take-Two sees it is that GTAIV’s release will increase the value of the company, and EA is just trying to take advantage of them and get their hands on the company before that happens.

News Story attached to:

Grand Theft Auto IV [PC, XBOX360, PS3]

7 comments | go to source (www.thatvideogameblog.com) | Add to favorites!

favourite this article |

send to friend

42	BUZZ! Quiz TV comes out tomorrow for the PS3, BUZZ! Master Quiz for PSP (0) September 22, 2008
115	Microsoft Making a Bid For Take-Two? (13) July 29, 2008
55	Tecmo Rejects Square Enix's "Friendly Takeover" Offer (0) September 4, 2008
49	Buzz! Quiz TV Buzzes With Trophies (0) August 6, 2008

Comments

Comments with -10 or lower "thumbs" are removed from display.

0 thumbs!
Jeterocks | February 25, 2008

Good. Take Two does not need to be tainted by EA.
0 thumbs!
Red 9 | February 25, 2008

Why is everyone trying to buy each other out? I know it's for more profit, but this is getting ridiculous.
0 thumbs!
tekmosis | February 25, 2008

http://ir.take2games.com/ReleaseDetail.cfm?ReleaseID=295739
Email correspondence between Strauss Zelnick of Take Two and John Riccitiello of EA.

All I have to say is thank god, way to stand your ground T2. Riccitiello came off sounding like a total ass, imo. Zelnick on the other hand was really polite and yet at the same time "rejection in your face, you're not getting GTAVI, nyaaa".
- 0 thumbs!
  dmf_dynasty | February 25, 2008
  
  I love how formal they have to be in those letters. They could condense each of those into two sentences.
1 thumbs!
Seeker X | February 25, 2008

That's right, Take-Two, stick it to em.
0 thumbs!
tallteen86 | February 26, 2008

BUUUUUT, if you re-read it, you realize that they aren't saying "No, you can't buy us", but rather "No, wait until we're worth a lot more than we are now, before you try again" >_>

If EA buys Take 2, and makes significant changes, I might not buy the next GTA (if there is a next GTA) >_>
- 0 thumbs!
  Seeker X | February 26, 2008
  
  I think they said that they're gonna talk to EA AFTER GTAIV releases, so they don't have to give EA a dime of their profits.