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EA Extends Take Two Offer Yet Again > |
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2008/06/17 12:03:21: Posted by DM |
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Electronic Arts really wants a piece of Take Two the easy way, it seems. They have extended their offer to buyout the company yet again, this time until July 18. The price has not increased though, they still are offering only 25.74 USD per share. EA must really be upset that when the Activision/Blizzard merger finally becomes official, EA will no longer have its status as the largest media company around, which does carry a lot of weight (at least in terms of resources available). The Take Two management responded with their traditional "so what" stance, and remained unimpressed. The man at the head of Take two, who has now become almost a household name from releasing statements about the buyout, Strauss Zelnick, had this to say:"The latest extension of EA's unsolicited, highly conditional tender offer does not alter the fact that their proposal still significantly undervalues Take-Two, a fact that is reflected in the overwhelming number of stockholders who still have not tendered their shares."If EA and Take Two do eventually merge into one company, the amount of buyout and takeover power they will have would be impressive, to say the least. This could certainly be a boon to small dev houses who need backing, but it could also be horrible for the bigger houses who have their staff and budgets "prioritized" for greater profit.
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