Saturday, March 15th 2008
EA Launches Hostile Takeover Bid for Take-Two
Following failed talks with Take-Two's management, games developer Electronic Arts has instead decided to directly approach shareholders with its takeover bid. EA has kept its offer at $26 per share, which would give the deal a total value of around $2 billion. EA's CEO, John Riccitiello, said:
Source:
DailyTech
This is a great opportunity for Take-Two shareholders. We believe Take-Two investors will see our tender offer as the best way to maximize the value of their investment in Take-Two. This tender offer provides a clear process to complete the proposed transaction. For EA shareholders, the combination would add additional intellectual properties to our already strong portfolio and welcome Take-Two's talented creative teams to the great development organization we've built at EA.Take-Two has issued a notice to all of its shareholders urging them not to accept the offer, but EA has set a deadline of 11th April - two weeks before the release of the eagerly awaited Grand Theft Auto IV.
26 Comments on EA Launches Hostile Takeover Bid for Take-Two
remember years ago there were dozens
Ocean,US Gold,Gremlin,bitmap brothers,team 17,Psygnosis etc they are all now mostly gone except EA :(
back in those days EA wernt even 1 of the big players tbh