Take 2 Board Plays Hard To Get With EA
In a response posted to their investor page, the board of directors at Take 2 rebuffed EA's offer to buy them for about $2 Billion. Basically they claim that EA just wasn't a right fit, and the offer undervalued the company, but what it boils down to is Take 2 expects the success of GTA 4 to price them way out of what EA was offering. We'll have to wait and see if they're right, but don't expect EA to just give up, at least not yet.
For now it looks like Take 2's dodged the EA juggernaut, although you imagine a few of those board members had second thoughts turning down that much money. Is GTA really worth that much, or has it lost a bit of luster in the three years since San Andreas?
TAKE-TWO INTERACTIVE SOFTWARE'S BOARD REJECTS ELECTRONIC ARTS' UNSOLICITED PROPOSAL AS INADEQUATE [Take 2 Interactive]
Dawdle
Posted to Hot Stuff, Video Games on 24 February 2008
· Comments (3)
Other stuff like this: business, ea, grand theft auto IV, merger, take 2
Shove it EA! I have so much respect for them now!
FUCK OFF EA!!
Reading some of the press release it seems like EA is just buying T2 for their brands. As soon as the takeover happens T2 will cease to exist.