[CVG] EA buys Take-Two - Overclock.net

byardz · 08-19-08

Take-Two to sign with EA

Take-Two says it expects to sign a confidentiality agreement with EA allowing EA to enter into Take-Two's formal process to evaluate strategic alternatives. Which basically means they're about to settle into some sort of talks.

Strauss Zelnick, chairman of Take-Two, said, "We welcome EA into our formal process and look forward to demonstrating to their Board the significant strides made by Take-Two since they last undertook a detailed review of our business in early 2007.

"Our Board remains unwavering in its belief that EA's unsolicited conditional tender offer of $25.74 per share was inadequate and undervalued Take-Two's world-class entertainment franchises and our strong operational and financial performance."

Ben Feder, CEO, added, "We are continuing to consider all alternatives that will maximize value to our stockholders. As part of that commitment, we are engaged in discussions with other parties as part of a formal process to generate greater value and will act quickly to assist EA in moving expeditiously through our process.

"In the meantime, we remain focused on executing on our business goals and creating value for stockholders and consumers of our products."

http://www.computerandvideogames.com....php?id=195542

DetonatorLoki · 08-19-08

..... sigh.

I'm disappointed but it was expected.

Unspokenfor · 08-19-08

noooooooooooooooooooooooooooooooooooooooooooooo

serialtoon · 08-19-08

Wow, what a loss....

SolShade · 08-19-08

The title should read EA carjacks Take-Two. Much more fitting

Murlocke · 08-19-08

Down with EA.......Down with EA.............Down with EA..........

I can't remember that last game from them that I enjoyed. Ruin more games =/

Sekigahara · 08-19-08

Mmansueto · 08-19-08

wow. how horrible. it was expected though.

S2000_Skyline12 · 08-19-08

Good. Now it's one more thing for you guys to cry about. Business is business. You can't make good game without money, now can you?

Sekigahara · 08-19-08

Quote:

Originally Posted by S2000_Skyline12

Good. Now it's one more thing for you guys to cry about. Business is business. You can't make good game without money, now can you?

Yeah, because Take Two was really hurting for money.

08-19-08	#1 (permalink)
byardz New to Overclock.net Join Date: Mar 2008 Posts: 232 Rep: 65 Unique Rep: 55 Trader Rating: 0	[CVG] EA buys Take-Two Take-Two to sign with EA Take-Two says it expects to sign a confidentiality agreement with EA allowing EA to enter into Take-Two's formal process to evaluate strategic alternatives. Which basically means they're about to settle into some sort of talks. Strauss Zelnick, chairman of Take-Two, said, "We welcome EA into our formal process and look forward to demonstrating to their Board the significant strides made by Take-Two since they last undertook a detailed review of our business in early 2007. "Our Board remains unwavering in its belief that EA's unsolicited conditional tender offer of $25.74 per share was inadequate and undervalued Take-Two's world-class entertainment franchises and our strong operational and financial performance." Ben Feder, CEO, added, "We are continuing to consider all alternatives that will maximize value to our stockholders. As part of that commitment, we are engaged in discussions with other parties as part of a formal process to generate greater value and will act quickly to assist EA in moving expeditiously through our process. "In the meantime, we remain focused on executing on our business goals and creating value for stockholders and consumers of our products." http://www.computerandvideogames.com....php?id=195542

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[CVG] EA buys Take-Two

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