“EA's proposal substantially undervalues Take-Two's game franchises,” says statement
Take-Two decided EA’s $2bn offer was "Not in the best interests of its stockholders” and rejected the bid.
“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.”
Read EA boss John Riccitiello’s letter to Take Two's executive chairman Strauss Zelnick here.
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Comments
GO TAKE-TWO!
Good on you Take-Two. Please don't let EA get hold of the GTA series, who knows what might happen!
Re: GO TAKE-TWO!
I'm sure even if EA did 'get hold of it' there would be no noticeable effect on gamers. But I don't blame Take 2 for holding out until GTAIV is on the shelves.
Re: GO TAKE-TWO!
Oh please EA take my ****py TTWO shares for those 26 Dollars. That would be so brilliant.
Re: GO TAKE-TWO!
Hmm:
http://seekingalpha.com/article/65919-electronic-arts-take-two-s-bizarre-love-triangle
Need for Burn Auto
Yep thats what will happen and then EA will make 2 different versions both with sloppy frame rates and screen tearing, then charge tons of points for the 360 version for tiny pieces of content that is already on the disc.
And with EA's amazingly awesome laggy servers it will be one of the best games played on the most horrendous offering from EA...
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