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Take-Two Reject EA's $2 Billion Offer News

GTA and Bioshock publisher rejects EA's offer, claiming its not in shareholders best interest...

By Chris Leyton
Posted: 25/02/2008
GTA IV

Following the earth shuddering merger that saw Activision become part of the Vivendi empire, forming the largest player in the videogame market with Activision Blizzard, it seems EA has its sights on regaining the top slot with confirmation of a $2 billion bid for Take-Two Interactive.

Presumably with eyes fixed squarely on the looming return of GTA, details of EA's tender for Take-Two and all of its subsidies and development studios hardly comes as a surprise given the wave of consolidation sweeping through the industry.

Making the statement public, it had been suggested that EA's offer was made over two weeks ago, the lack of reply sparking EA CEO John Riccitiello to announce the move to the stock exchange.

Responding today however, Take 2 has rejected the bid maintaining that it was "not in the best interests of its shareholders".

"We believe EA's unsolicited offer is highly opportunistic and is attempting to take advantage of our upcoming release of Grand Theft Auto IV, one of the most valuable and durable franchises in the industry," said a Take-Two statement.

"Furthermore, the offer values the Company at a significant discount to its public peers and does not compensate Take-Two for its intrinsic value and the substantial synergies that the proposed combination would create."

Of course this doesn't rule any acquisition out, Take-Two shareholders could still agree that the acquisition is the best move forwards; so expect further details on this situation soon.

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User avatar By: Anonymous

Added:Wed 03rd Jun 2009 21:41, Post No: 485

gta 4 the best

im from macedonia

User avatar By: Anonymous

Added:Wed 03rd Jun 2009 12:59, Post No: 484

fahtraj muamhba  ayfsgadxtrasd gfvfrasfrdacaxcaailoaoug

By: gfh-77

Added:Sun 17th May 2009 21:22, Post No: 483

lol ps3 is getting the lost and the damed all thanks to ms making the biggest bodge in history by making the dlc a timed exclusive, sorry if you dont like that news but its hitting numerous websites including gamespot.

User avatar By: Anonymous

Added:Sat 16th May 2009 21:18, Post No: 482

I think the verb is to tweet, and the past tense is tweeted...on second thoughts, who cares.

User avatar By: Anonymous

Added:Sat 16th May 2009 16:40, Post No: 481

greatest one of the serise

User avatar By: Anonymous

Added:Fri 15th May 2009 20:24, Post No: 480

ps3 will never get dlc for gta iv ms shelled out a lot of dough to make sure of that.

User avatar By: Anonymous

Added:Fri 15th May 2009 20:23, Post No: 479

ps3 will never get dlc for gta iv ms shelled out a lot of dough to make sure of that.

By: SegaBoy

Added:Fri 15th May 2009 16:50, Post No: 478

That's not that crappy twitter blog that's also talking about Metal Gear Solid 4: Oxide is it?  I wouldn't read too much into that, but Blood and a Four Leaf Clover does sound kinda Rockstar and GTA'ish...

User avatar By: Anonymous

Added:Fri 15th May 2009 16:19, Post No: 477

Heard somewhere it was going to be called, "Blood and a Four Leaf Clover."

User avatar By: Anonymous

Added:Wed 15th Apr 2009 20:52, Post No: 476

great game

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