EA tried to buy out Take-Two?!

[Sweet-16]

By BARBARA ORTUTAY, AP Business Writer Wed Mar 26, 11:07 AM ET

NEW YORK - "Grand Theft Auto" publisher Take-Two Interactive told its shareholders Wednesday to reject a $2 billion buyout bid from rival video game company Electronic Arts, saying it's not enough.
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But in the same breath the company said it will explore alternatives, even combining with EA or other third parties, to maximize its value for shareholders. But it wants to wait until after April 29, when "Grand Theft Auto IV," the latest in the blockbuster series, hits store shelves. The game is by far Take-Two's most popular and one of the best-selling franchises in the industry.

The $26-per-share bid turned hostile March 13 when EA took the offer directly to shareholders. Take-Two's board had asked for 10 business days to mull over the decision and that time ran out Wednesday.

Take-Two took several steps to prevent EA from going through with a hostile takeover. It adopted a 180-day shareholders' rights agreement, also known as a "poison pill." It kicks in if an outsider acquires 20 percent of Take-Two's shares or if an existing shareholder who already owns this much buys another 2 percent.

Chairman Strauss Zelnick said the rights agreement "will not, and is not intended to, prevent a takeover of the company on terms that are fair to and in the best interests of all stockholders."

Take-Two also moved back its upcoming annual shareholder meeting to April 17 from April 10 and amended its bylaws to give shareholders more time to nominate board members.

A representative for Redwood City, Calif.-based Electronic Arts Inc. could not immediately be reached for comment.

Take-Two Interactive Software Inc.'s shares have briefly climbed above $26 in recent weeks, but analysts are not expecting the offer to go much higher. The company said it has received other "indications of interest" since EA's offer became public last month, but there haven't been any "substantive discussions."

Take-Two said it is willing to start preliminary talks, including with EA, before April 29 under confidentiality agreements.

i didn't hear anything about this until today. did anyone else know about EA trying to acquire Take-Two?

[Pabl0z]

Yeah I heard about this a few days ago.
EA officially sucks in my books.

[S2000_Skyline12]

I'm sorry, but i'd be happy to work at EA with that kind of money they're getting xD, and the money they'll get if they do buy in time for GTAIV release, jesus. Not saying I love EA, but they're pretty smart money wise lol

[Pabl0z]

Well I'd rather be a lovable bum than a rich arsehole.

[S2000_Skyline12]

I'd rather wear clothes than cardboard that has "Will game for food" written on it =P

[YaelDjiel]

quite old news, heard about it some time ago already
however, i dont think its good news..

there was a nice comment at that article i read at the time..

"EA's plan for world shiznit-game domination is moving along."

[race_invader]

I hate ea, also most of that says that EA is trying to get GTA? or am i wrong. If EA ever get their hands on GTA or any great take-two game etc then ill definatly be pi$$ed off.

[YaelDjiel]

also most of that says that EA is trying to get GTA?

of course xD do you have any idea how much money they could be making with GTA4?

[Sweet-16]

I figure that they're definitely after GTAIV because it was supposed to be released this and expected to score high in the copies sold category. To me, EA is a lot like Microsoft. Instead of developing games that could compete with other companies' games, they'd rather just buy out the competition instead of putting that money towards their own products. Honestly, I hope EA doesn't get this. Just one more genre of gaming that they'd like to own. Probably just to soak up more money from people who are displeased about the quality of their current products.

[Carcrazy]

Why are we making a fuss over old news? I had this posted over a month ago...

[S2000_Skyline12]

So? People obviously don't care lol, I saw it in a Game Informer I got on Monday

[Jopuma]

I don't see why people have problems with EA. I never have. I found their customer support really extensive and got immediate responses. And if you really hate EA why the hell do you have so many games from them? (all NFS titles the Battlefield series and many other games)



Sometimes you guys contradict yourselves.

[S2000_Skyline12]

Err, I only have PS from them and I don't even play it lol, don't like Battlefield games either rofl, So i'm pretty much in the clear seeing as how i'm about to delete PS anyways, taking up space doing nothing lol

[Carcrazy]

I found their customer support really extensive and got immediate responses.

Ha, haha! That made me laugh...

The only thing slower than EA's tech support is trying to run Pro Street on 90% of computers. (AKA, store bought...)

[Jopuma]

I found their customer support really extensive and got immediate responses.

Ha, haha! That made me laugh...

I had a problem once. I contacted them about it and they responded right away.

[Carcrazy]

I had to wait 3 freakin' days after I e-mailed them, and didn't even get any useful data. Same thing the next time. Hell, they even lost my Most Wanted game in their inventory... >.<*

[PSZeTa]

I had a problem once. I contacted them about it and they responded right away.

You obviously need more problems before you can conclude whether their customer support is quick or not.

[korge]

EA is trying to be a monopoly. Someone should stop buying their games...

[TheStig]

If someone stops buying their games,they won't even notice it....

[Fishwhiz]

lol agreed!

they never listen to their consumers. ever. and most of the ea games are crap. i'm not buying the next nfs game. i'm done with that. they'll never give us what we want. thats why im only going to play games criterion makes because they listen directly to the players, and can actually make a good game.

[korge]

lol agreed!

they never listen to their consumers. ever. and most of the ea games are crap. i'm not buying the next nfs game. i'm done with that. they'll never give us what we want. thats why im only going to play games criterion makes because they listen directly to the players, and can actually make a good game.

People say that every year.... And change their mind when the see EAs Movie magic at work.

STEAM has just got Ubisoft ontop of EPIC.

Online publishing is the future and I bet EA will try to create their own version of STEAM.

[ImJ]

I'm pretty sure they have got there own STEAM, well that EA Download thing, you can buy games on there but not sure if you can add friends or find servers

[Carcrazy]

Yeah, online publishing is the shiz, I get all my TV shows off iTunes nowadays... (as in since Monday.)

But, by doing that, they'd cut off the only people who really look forward to buying their games, the 5 year olds who don't know what a REAL game, (like NFS III) was/is.

[S2000_Skyline12]

I'm not gonna lie, I wouldn't touch a game like NFS3 when TDU is out lol

[Carcrazy]

You never touch games anyway...