March 30th, 2008
EA Won’t Give Up Either!
The fact that Take-Two said to its shareholders to reject EA's bid didn't make the later pull back, but on the contrary - they have just extended the offer expiration date to April 18, and made some interesting amendments to the offer...
EA's Senior Vice President of Corporate Development, Owen Mahoney, said "The actions of the Take-Two Board may increase the risk for their stockholders by delaying a potential transaction. We continue to believe that our $26.00 per share offer price is full and fair, and that a transaction between Take-Two and EA is the most compelling combination financially, strategically and operationally for all parties."
Apart from extending the offer until the 18th of April, EA also added a condition to its offer requiring that either Take-Two's Board of Directors redeem the preferred stock purchase rights issued as a result of Take-Two's adoption on March 24, 2008 of the stockholder rights plan, or EA be satisfied that such rights have been invalidated or are otherwise inapplicable to its acquisition of Take-Two.
Well, I really hope Take-Two won't give up, because competition is always good, and having only a few giant companies in the gaming world is not good at all. I don't say all EA Games titles are bad, but they turned a few great titles into dull money makers, and I won't give any names...
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Published by: Codrut Nistor in News
2 Comments on EA Won’t Give Up Either!
Posted by jimmy c 03/31/2008 2:59 pm
I agree. Take two are a quality developer and it would such a shame for a large cash whoring company like EA to take over. So many of EA games are just movie based and official and such like, however being essential rubbish games. They could taint so many good franchises!
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Sep 15, 2008: Electronic Arts Vs. Take-Two - Game Over!