September 15th, 2008
Electronic Arts Vs. Take-Two – Game Over!
I don't know if you remember the story regarding Electronic Arts' plans to purchase Take-Two, and - if you ask me - there's not that much to remember, either. After all, last time when we talked about this, EA was decided to extend its initial offer, although Take-Two already refused it. In the meantime, some rumors and brief reports about the entire "battle" surfaced, but nothing really interesting. Now, it seems this is finally over, and I hope it won't come back from the dead a few times, as it happened with the Yahoo - Microsoft match...
Following a presentation from the Take-Two management team, EA finally decided to terminate the discussions with Rockstar Games regarding a takeover, without giving a specific reason. In a statement from EA, it is mentioned they still have "a high regard" for Rockstar Games creative teams and products(who could dare to say GTA 4 is not a great game, huh???), but
"after careful consideration, including a management presentation and review of other due diligence materials... EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two."
Soon after EA's news, Strauss Zelnick, chairman of Take-Two said they are still seeking business partnerships, being pleased with the financial performance of the company in the last 18 months.
"We remain focused on creating value for our stockholders and our consumers. This has been our goal since EA launched its conditional and unsolicited bid six months ago, a bid which was repeatedly rejected by our stockholders. As part of that commitment, we remain actively engaged in discussions with other parties in the context of our formal process to consider strategic alternatives. We're especially proud of the success we've enjoyed over the past eighteen months and we remain confident in our ability to generate value for stockholders," commented Zelnick.
They have Bioshock and GTA 4 in the portfolio, who wouldn't be confident in the future considering those? All I can hope it that their fans will also be satisfied by future releases, and not only the shareholders... but that's what remains to be seen!
1 vote(s)
Loading ...
Published by: Codrut Nistor in News
One Comment on Electronic Arts Vs. Take-Two – Game Over!
Posted by Cezar 09/16/2008 1:35 pm
Those EA guys behaves exactly like those ones from Microsoft. They want them all. I love the guys from Take-Two's and Ubisoft respectively because they are not weak in terms of such offers. I have heard some rumors about this in the past few days ... but didn't known exactly what the answer from Take-Two was. So here we go - chairman of Take-Two rejected the offer. Thank GOD !