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[Bloomberg] Electronic Arts Offers $2 Billion to Acquire Take-Two - Page 4

post #31 of 39
Quote:
Originally Posted by Hellisforheroes View Post
* 2003: Westwood Studios in Las Vegas, Nevada - acquired in 1998
RIP

Best..game..studio..ever..*sob*

Seriously though, EA needs to GTF0 of every game studio in the world.. they only survive because they publish almost every damn game
    
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post #32 of 39
Take Two resisted EA's offer because the nest version of GTA is almost ready for release. They know that their stock will jump when that happens. Look for EA to sweeten the pot. Tactic's right........ this is just the reality of the industry. No one hates it more than me......EA has ruined my gaming experiences.
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post #33 of 39
Quote:
Originally Posted by ElMikeTheMike View Post
EA has ruined so many fanchises. They're an absolute cancer on the video gaming industry.
Well said.

Also:

Quote:
TAKE-TWO INTERACTIVE SOFTWARE'S BOARD REJECTS ELECTRONIC ARTS' UNSOLICITED PROPOSAL AS INADEQUATE

New York, NY - February 24, 2008 -- The Board of Directors of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today confirmed that it has received an unsolicited proposal from Electronic Arts Inc. (NASDAQ:ERTS) to acquire Take-Two for $26.00 per share in cash. Take-Two's Board of Directors has thoroughly reviewed EA's unsolicited proposal with the assistance of its independent financial and legal advisors and concluded that the proposal is inadequate in multiple respects and not in the best interests of Take-Two's stockholders.

After careful evaluation, the Board has determined that EA's proposal substantially undervalues Take-Two's robust and enviable stable of game franchises, exceptional creative talent and strong consumer loyalty. 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. 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.

Strauss Zelnick, Executive Chairman of the Board of Take-Two commented, "Electronic Arts' proposal provides insufficient value to our shareholders and comes at absolutely the wrong time given the crucial initiatives underway at the Company. Thanks to the extraordinary efforts of our creative and business teams, Take-Two has made enormous strides in the past 10 months toward our common goal of being the most creative, innovative and efficient company in our industry. We're extremely proud of our unique portfolio of game franchises, exceptional creative talent and loyal consumer following. Our Board believes that we will build greater value for our stakeholders by remaining relentlessly focused on our strategy and delivering on our mission of making the highest quality interactive entertainment."

Mr. Zelnick continued, "In addition to undervaluing key elements of our business, EA's proposal fails to recognize the value we are building through our ongoing turnaround efforts, which will further revitalize Take-Two. While we have made substantial progress already, the turnaround of our business which we initiated in June is not yet complete, and we believe its benefits have not been recognized in either our current stock price or in the value of EA's proposal."
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post #34 of 39
Jake Thompson is obviously part of this.
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post #35 of 39
Quote:
Originally Posted by Xombie View Post
Also:
well take-two hit the nail on the head with that. very very well said and respectfully reasoned. I am glad to see them aware of their values and not just what their company is worth. A very smart move on their part. Lets hope they dont fall faint to EAs more recent offer(s).
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post #36 of 39
No **** they didn't sell. $26 a share is an insult to their company.

Currently at $26.88 http://finance.google.com/finance?client=ob&q=TTWO
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post #37 of 39
Yeah, EA used to make some pretty good games, like triple play baseball, but i'll have to see how far cry 2 turns out before I make any decisions. Crysis was pretty good though.
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post #38 of 39
Goodbye Gta
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post #39 of 39
Quote:
Originally Posted by mth91 View Post
Yeah, EA used to make some pretty good games, like triple play baseball, but i'll have to see how far cry 2 turns out before I make any decisions. Crysis was pretty good though.
EA arent making far cry 2. Ubisoft are. Where did you get that idea from?
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