News
Pachter: Take Two has made a mistake
Ben Parfitt Mar 26 2008, 1:45pm
Comments (8)
Leading analyst says publisher has ‘virtually no chance’ of getting a better offer than that proposed by EA
Following Take Two’s stern rejection of EA’s $26 per share offer for the firm earlier today, Wedbush Morgan’s Michael Pachter has stated that he believes the publisher’s board has made an error of judgement.
“We're frankly surprised by Take Two's rejection of EA's offer,” Pachter stated. “Although many of the points raised by Take Two's board are entirely true, we are somewhat amused that they are raised as negotiating points.
“We think that the board has virtually no chance of finding a better offer.
In our view, Take Two's board has made a mistake. We believe that the company was positioned to extract a higher offer from EA by offering a friendly transaction, and its board chose to continue its adversarial posture.
“We think that Take Two's position that the company will have greater value after the release of Grand Theft Auto IV is naive at best, and disingenuous at worst. We think that the strategy adopted by Take Two's board was ill-advised.”
To read Pachter’s response in full, click here.
Comments
“Michael Patcher”
Posted by: A Reader - Mar 26, 3:42pm
Michael Patcher - the new spam..........
I wonder when he gets time to actually do any work?
“Re: Michael Patcher”
Posted: Mar 26, 4:14pm
So, I wonder if EA have this guy on their payroll..?
“Re: Michael Patcher”
Posted by: H - Mar 26, 5:08pm
actually this might be the first time in history Patcher has been right.....let's see.
“Re: Michael Patcher”
Posted by: Minbad - Mar 27, 9:49am
How about "EA has made a payment to Michael Pachter"?
The guy's all of a sudden got his mouth so far on EA's "determined action", it's not even funny any more at this point.
Nevertheless, what is hilarious indeed, is that there is no need to be a financial mumbo jumbo BS wizzard to state this very clearly : "Take2's share value live today : USD 26.91. Plus will it be much more after GTA IV's release? Mmmm, I think I need an analyst to find out, don't you?
“Re: Michael Patcher”
Posted: Mar 27, 9:50am
I looked up the word "Analyst" in the dictionary. It said "for definition, see the word 'Guesser'"...
“Re: Michael Patcher”
Posted by: Sam - Mar 27, 10:15am
Why on earth do you keep quoting this guy ?
He's wrong so often it's getting ridiculous.
“Re: Michael Patcher”
Posted by: Pantythief - Mar 27, 10:52am
Made a mistake?
Er, surely the only mistake Take 2 could make would be accepting the offer before GTA4's release?!
I was under the impression that GTA4 was going to be the highest grossing entertainment retail product of 2008?!
“Re: Michael Patcher”
Posted by: Maxwell - Mar 27, 12:52pm
That's really too bad he's an analyst, he'd have made a killing in stand up comedy... Or maybe as the only "EA fanboy"? I hope it isn't the beginning of a trend here...