EA made a bid on take2 games

[snowdog]

As per title, incase any of the pc game forum regulars don't read the console forums:

http://forums.overclockers.co.uk/showthread.php?t=17845564


From that thread:

Electronic Arts today announced that it has proposed to acquire Take-Two in an all-cash deal valued at approximately $2.0 billion.

The news follows weeks of rumors that Take-Two would be the subject of an acquisition bid, with Viacom touted as a possible suitor at $1.5 billion. EA has, it turns out, attempted to buy Take-Two for $25 a share, and, after being rebuffed, has upped the ante by a buck. But the firm has warned shareholders that they won't get a better price.

EA's proposal of $26 per share in cash represents a premium of 64 percent over Take-Two's closing stock price prior to the company's bid.

EA Chief Executive Officer John Riccitiello said "Our all-cash proposal is a unique opportunity for Take-Two shareholders to realize immediate value at a substantial premium, while creating long-term value for EA shareholders. Take-Two's game designers would also benefit from EA's financial resources, stable, game-focused management team, and strong global publishing capabilities."

He urged Take-Two shareholders to accept the bid, "There can be no certainty that in the future EA or any other buyer would pay the same high premium we are offering today."

EA had warned Take-Two's bosses that if they refused to engage in negotiations, the company would go public with its bid. Today, EA made good on that threat.

Take-Two's assets include Grand Theft Auto 4, which ought to be the biggest game of 2008. EA says it wants to get the deal done before the game's release in order to avoid disruption.

End of the GTA and Civilization series as we know em ?

 

[jaykay]

Or do it before the game to get a lot of money and ruining the game.

 

[snowdog]

uhu.
Imagine seeing a big EA logo when fireing up GTA IV.
If this goes through this will probably be far b4 they start working on a pc version.
It might even mean we'll never get IV for pc .

 

[Jongo]

oh dear, this is gonna mean the end of the GTA Series

 

[HAz]

The end is nie!

 

[BlackDragon]

Bah, EA is just ruining the games market

 

[.:MBK:.]

one would hope ea has the sense to keep their noses out...but thats never going to happen, RIP GTA

 

[Gerard]

Im suprised this hasn't happened sooner given how popular the GTA series is. Im more suprised microsoft didn't try and aquire them to make GTA 360 exclusive.

Gta might turn into a yearly half assed refresh if ea get their claws on them, ooh look 1 more car colour this year and some recycled cut scenes ooooh.

 

[Cr0fty]

Well that isn't good at all

It really isn't healthy to have one company dominating the market

 

[Killerkebab]

Well that isn't good at all

It really isn't healthy to have one company dominating the market

Thank God it never happened for OSs

 

[mrk]

The end is nie!

NAY!


EA just got bitchslapped

Take-Two Rejects Electronic Arts [ 6 Comments ]
Sunday, 24 February, 2008 at 13:50 PST | Jordan | Print News
Electronic Arts has made two offers to Take-Two Interactive Software over the past few days to try to buy them out, but today comes a big press release that is titled "TAKE-TWO INTERACTIVE SOFTWARE'S BOARD REJECTS ELECTRONIC ARTS' UNSOLICITED PROPOSAL AS INADEQUATE."

http://planetgrandtheftauto.gamespy.com/fullstory.php?id=148410

 

[knowledge123]

Horray! \o/ ^^^^^^

I was also kind of hoping that it would fall foul of anti-competition laws, I mean, how big can EA actually get ? I think they're getting a little nervous of 'ActiBlizz' or whatever they are called, and are going to start snapping up as many companies that they can

 

[neoboy]

Are there any figures on what companies have what percentage of the market?

 

[knowledge123]

Latest I could dig up. Updated: Tuesday, 06 February 2007

Take-Two's assets include Grand Theft Auto 4, which ought to be the biggest game of 2008. EA says it wants to get the deal done before the game's release in order to avoid disruption.

from here

Right not about how many copies it will sell at all, or about the money, the are desperate.

 

[yaboy]

oh dear, this is gonna mean the end of the GTA Series

For real, it'll be like Saints Row, all future gtas - mediocre GTA clones (not that saints row sucks, just comparing to gta.. well go figure)

surely they only want to get deal sorted before release so they rack in all the money it gains?

 

[knowledge123]

surely they only want to get deal sorted before release so they rack in all the money it gains?

Exactly, EA is too big for it's boots tbqh, though they do make (occasionally ) good games, comments like this are just way out of line.

 

[Stelly]

thank god, but I dont think that it would matter with Civ as its Firaxis that owns the name and rights to the game...

Stelly

 

[yaboy]

Exactly, EA is too big for it's boots tbqh, though they do make (occasionally ) good games, comments like this are just way out of line.

Oh yeah gotta admit they make great games EA Sports... is.. well BIG!

But if you ask me, theyre more into making sequels and whatever earns a lot of money rather than quality products

 

[Naffa]

If any of you actually have actually read the whole article, you'd see that Take-Two has only postponed talks of the take over, not written them off. They're going to start negotiations on the 30th of April, the day after the scheduled release date for GTA:IV.

So they're probably going to sell out, just not until they've made a lot of money out of GTA:IV.

 

[steveo]

dear god you just no if ea do get them that they will produce the sims/gta game