58

EA Puts Pressure on Take Two with Deadline

Avalith | March 13, 2008 | News | Company 
We've all probably heard by now that EA wants Take Two. Take Two has kindly refused their offer, and have recently been sued by a shareholder who alleges that the company didn't reveal the takeover bid to shareholders in order to arrange for a better deal, but not before Jack Thompson tried to worm his way into the conflict, to which EA chose to give him a subtle boot to the head.

But apparently EA means business; they've put a deadline on Take Two: April 11, although it could be extended. Zelnick wasn't too happy initially because he was afraid that EA was trying to worm its way into getting the profit from GTAIV. Will Take Two succumb? Only time will tell...
Electronic Arts Inc <ERTS.O> plans to launch a tender offer for all outstanding shares of rival Take-Two Interactive Software Inc <TTWO.O>, publisher of "Grand Theft Auto" video games, a person familiar with the matter said, indicating EA's $1.9 billion bid is turning hostile.

Take-Two last month rejected EA's unsolicited offer. EA will offer Take-Two shareholders $26 a share, the same price at which it launched its all-cash bid, the person said.

Take-Two Chairman Strauss Zelnick has called the bid "the wrong price and the wrong time," arguing that EA was trying to buy his company on the cheap just before the launch of Grand Theft Auto 4, the latest in a blockbuster franchise which debuts on April 29.

News Story attached to:
0 comments | go to source (www.boston.com) | Add to favorites! favourite this article | send to friend
Register as a member to subscribe comments.

This news story is archived and is closed to comments now.

Submit Newshelp

Top Contributors

This Month
chautemoc 1571 pts
Akira_EX 1546 pts
Gothic Girl 1412 pts
Tyranitar24 1399 pts
Deathsythe 728 pts
Silver Mir.. 705 pts
Cruxis Mana 669 pts
Linkin Par.. 643 pts
Krunal 568 pts
tidus04 523 pts
All-Time
Gothic Girl 18105 pts
Krunal 12206 pts
Linkin Par.. 10173 pts
chautemoc 9376 pts
Final Blade 9136 pts
Silver Mir.. 8737 pts
xsynergyx 7909 pts
mistermostyn 7668 pts
Akira_EX 7603 pts
Tyranitar24 6636 pts

Stats

Today
Published News: 14
Comments: 104
Points Given: 191
Users Registered: 1
This Month
Published News: 616
Comments: 4452
Points Given: 10219
Users Registered: 49
All Time
Published News: 10964
Comments: 74999
Points Given: 177429
Users Registered: 569

Conventions / Trade Shows

(0.1406/d/aeon)