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EA Makes Offer to Buy Take 2 | |
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| Time: 14:07 EST/19:07 GMT | News Source: E-Mail | Posted By: Byron Hinson | ||
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Electronic Arts just called me to let me know that they are making a bid to acquire Take-Two Interactive in an all-cash merger of about $2 billion. The offer set Take-Two's stock at $26 per a share, about 64 percent over the company's closing stock price prior to the company's Feb. 15 offer. Take-Two's board rejected the offer, leading Electronic Arts to make their offer public to the company's shareholders. In the letter, attached in the jump, EA CEO John Riccitiello tells Take-Two's Stauss Zelnick that the buy-out would help both the company and its stock holders. | ||
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| #1 By 3653 (65.80.181.153) at 2/24/2008 7:48:56 PM |
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When you can't compete, you acquire. Losers! Another old fogey doesn't "get it" and is wrong in thinking it can meld two corporate cultures. Bye bye Take-Two brand. I hope the EU stops this from happening. The trustbusters really need to nip this one in the bud. They are overpaying BIG TIME on this deal. What a bunch of fools. Fire the CEO now!
Oops! My bad. I thought it said Microsoft. Kudos Electronic Arts. Its about time someone took Take-Two and showed them how to act like a real company. This is another example of how business strategy, when properly applied... can really make a positive difference in an industry. I see no reason why the US or EU would care about this transaction, as there is plenty of competition in this industry. This is smart business with a capital SMART. EA has some real vision, picking up Take-Two on the cheap. This post was edited by mooresa56 on Sunday, February 24, 2008 at 19:50. |
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