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EA Makes Offer to Buy Take 2

I really fear for the GTA series if the scum cunts that are EA buy Take Two. They really are the M$ of the games industry, loads of money, power-mad, produce bug-ridden shit and update it every so fucking often.
 
I really don't understand why EA just don't create their own GTA'esque IP? The Godfather was a good start, really enjoyed that game, the wife and I just played it again on the 360........
 
Placebo said:
I really don't understand why EA just don't create their own GTA'esque IP?
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Its not as if they don't have the resources to do it.

Since Activision and Blizzard got together and became the No.1 in the industry EA's ego has got even bigger and they want the No.1 title back.
 
Good point.

In recent months they've bought Pandemic and Bioware, now EA can say they have M rated titles such as Mecenaries 2...
 
EA Lowers its Offer to Take Over Take-Two Interactive


The EA/Take-Two saga continues as EA has reduced its previous offer of $26 per share of common stock to $25.74 per share in cash, as a result of Take-Two stockholders' approval of amendments to the Company's Incentive Stock Plan at the Take-Two's Annual Meeting of Stockholders.

In light of the latest offer, Take-Two has responded:

"The minuscule number of shares tendered, as well as the strong vote in favor of the proposals presented at our annual meeting, offer indisputable evidence that our stockholders regard our efforts to enhance Take-Two's stockholder value as superior to the EA offer," said Strauss Zelnick, Chairman of the Board of Take-Two. "This is the same highly conditional proposal that EA offered Take-Two stockholders on March 13, 2008, which our Board of Directors thoroughly reviewed and unanimously determined to be inadequate and contrary to the best interests of Take-Two's stockholders. Take-Two's Board of Directors has maintained from the beginning, and continues to believe, that EA's proposal undervalues our Company. It undervalued the company at $26 per share, and it certainly undervalues Take-Two at $25.74."

"EA's highly conditional offer fails to compensate our stockholders for our exceptional portfolio of intellectual property, world-class creative resources, and our successful revitalization initiatives. The recommendation of our Board of Directors that stockholders not tender their shares to EA remains unchanged." "The Board is committed to maximizing stockholder value and continues to explore all strategic alternatives, including a business combination with third parties, remaining independent, or other strategic or financial alternatives. We have received expressions of interest from a number of interested parties and look forward to beginning formal discussions following the launch of Grand Theft Auto IV. The Board continues to believe that we will be best positioned, from the perspective of both value and timing, to move forward at that time. We are confident in the significant growth potential of Take-Two and in the unique value of our business given our strong position in this dynamic industry," Mr. Zelnick concluded.

Looks like the drama will continue!
 
I don't understand why someone like M$ or Sony haven't tried to throw thier hat into this and sign a gigantic exclusive title - I'm sure M$ would be able to offer Taketwo the same kind of freedome deal they gave bungie!
 
MS have said its not worth in other words plus the price is too much even for them.
 
Source: http://www.computerandvideogames.com/article.php?id=188726

EA lands $1bln loan for Take-Two bid

Electronic Arts has executed a commitment letter for up to $1 billion in debt financing to support its bid for Take-Two.

EA said in an SEC filing that it has had more than the amount needed to cover the -Two acquisition--valued at around $2.1 billion--set aside as early as March 31 this year.

But EA still secured the new loan from Morgan Stanley Senior Funding, Inc., Morgan Stanley Bank, BNP Paribas, BNP Paribas Securities Corp., The Bank of Nova Scotia and KeyBank National Association.

The funding organizations will be able to provide EA with up to $1 billion of senior unsecured loan term financing at any time until January 9, 2009. Funds would be used towards offer "and/or the merger."

EA will be required to pay back the loan, along with interest.
 
Bastards.
 
Didn't see it ending this way

EA has sent out a press release stating that they are ending their talks with Take Two. EA makes sure to remind us that they still hold T2 in high regard, but will no longer attempt a takeover.

EA also mentions the success of Spore and tells us that they have high hopes for their upcoming space survival-horror adventure Dead Space.

Below are two press releases. The first is EA's announcement, and the second is T2's response:

EA

Electronic Arts Inc. today announced that while EA continues to have a high regard for Take-Two's creative teams and products, after careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software Inc. ("Take-Two"), EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two.

John Riccitiello, Chief Executive Officer of EA, said: "EA is tracking toward a record breaking year. We're launching 15 new games including award-winners like SPORE, Dead Space and Mirror's Edge, great new titles from the Sims, new family titles with Hasbro, and the highest quality slate of EA SPORTS titles on this generation of consoles. We're also expanding beyond our core business with a series of direct-to-consumer launches including Warhammer Online."



Take Two Announcement

Take-Two Interactive Software, Inc. today responded to Electronic Arts Inc.'s announcement that it does not intend to pursue an acquisition of Take-Two at this time.

Strauss Zelnick, Chairman of the Board of Take-Two, commented, "We remain focused on creating value for our stockholders and our consumers. This has been our goal since EA launched its conditional and unsolicited bid six months ago, a bid which was repeatedly rejected by our stockholders. As part of that commitment, we remain actively engaged in discussions with other parties in the context of our formal process to consider strategic alternatives. We're especially proud of the success we've enjoyed over the past eighteen months and we remain confident in our ability to generate value for stockholders."

"Take-Two's business has continued to strengthen since the time EA first made its offer. We have delivered terrific products to our consumers and we've been rewarded with very strong financial performance. We have an exciting future ahead of us, powered by our profitability, a significant cash position, the absence of debt, an undrawn credit facility and a terrific lineup of games. We are confident in the unique value of our business given our strong position in what is a growing and dynamic industry," said Ben Feder, Chief Executive Officer of Take-Two.
 
Just a thought, we could make this thread into a general games thread. Sticky it with the console threads and just post all news and general gaming thoughts in it?

Oh, and I don't think its a bad thing for Take2 or the industry, EA have mostly reformed I think.
 
matherto said:
Just a thought, we could make this thread into a general games thread. Sticky it with the console threads and just post all news and general gaming thoughts in it?

Oh, and I don't think its a bad thing for Take2 or the industry, EA have mostly reformed I think.
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no way, terrible thing
 
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