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
Jack Thompson may believe that his actions could see the Grand Theft Auto franchise being ruined by EA's clumsy hands, which have ruined countless game franchises with stupid in-game advertisement, along with nonsensical and unnecesarry crap shovelled in.
Source: Made-up news weekly
Ah, EA is trying to ruin GTA, while cashing in on the latest release. Well, actually, let's just hope if they do buy Take-Two, they don't meddle much.
Everything nicely put inside a nutshell.
just wait till they do a microsoft and bring out their own console for their games and then they wont release them on any other format.
But seriously, EA should get its act together and let the developers do their thing without interference. Almost all games they pump out nowadays are incredibly boring and repetitive, especially when you consider the massive resources they have behind them. Come on EA, you can do a lot better! :shadedshu
Example need for speed pro street
Sure, it was unpopular a tiny bit thanks to several bugs which pissed people off a heck of a lot.
Now the 1.1 patch, didnt really do much except add several tracks, and two cars.... And they claimed to add every car to the game through this.
Nice? No. Moreover the 30 FPS frame cap really pissed people off. And yet many of the glitches/bugs are still in the game havent been fixed at 1.1-the bloody obvious ones.
EA Ruined a good idea. This is what greed does. In terms of games, its not that bad, but if they were dealing with something else :shadedshu
I know this will be hard for everyone to do but if you see a game published or made by EA then put some mind control on yourself and no matter how much you want to buy it DONT.
This year everyone needs to NOT buy Mercenaries 2
This year everyone needs to NOT buy Spore
This year everyone needs to NOT buy Army of Two
This year everyone needs to NOT buy any of the sports games like Madden, NBA, and NCAA
This year everyone needs to NOT buy Dices soon to be awesome game Battlefield: Bad Company
I know this is hard people but if we dont draw the line by not buying great games published by EA then we will start to lose the great games we are still getting from other companies and publishers its only a matter of time before we lose all the independent developers. It wouldnt surprise me if Id Software gets offered some money too, soon.
Right now, the only EA games I buy are from EA Westwood and EA Mythic and Rockband.
Although the second statement still funds the Trojan Horse that is EA.
I guess all good things must come to an end . . .