EA Still Wants Takeover of GTA's Take-Two - Mania.com



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EA Still Wants Takeover of GTA's Take-Two

Even after the original offer expires.

By Jarrod Sarafin     May 20, 2008


Screenshot of GRAND THEFT AUTO IV(2008).
© Take-Two Interactive
Even days after EA (Electronic Arts) had their original takeover bid expire for Take-Two (creators of Grand Theft Auto), the mega conglomerate of the gaming industry isn't stopping. The latest from Business Wire has indicated that EA will offer another bid to take them over in hopes of expanding their already wide reach in the gaming sector.

"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," said Zelnick in a statement. "We said we were willing to begin formal discussions with interested parties on April 30, following the launch of Grand Theft Auto IV, and we have, in fact, begun that process."

Take-Two had their own assessment of the bids.

According to Take-Two CEO Ben Feder, "The small number of shares tendered into EA's offer to date demonstrates that our stockholders agree with what our board has maintained from the beginning: EA's proposal undervalues our company."

This would be the third with the first two now expiring up-to and after the release of their latest GTA title.

COMMENTS AND RESPONSES

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stupidmania 5/20/2008 3:50:49 AM
the video game version of Microsoft vs. Yahoo! Stay tuned as we find out who will be playing the role of Google!
DGEKSTROM 5/20/2008 4:34:08 AM
How much longer will the courts allow EA to monopolize the game industry, I wonder? I mean, they just bought 2K Boston(Bio Shock). I guess when your monopolizing, one just isn't enough.
hanso 5/20/2008 4:38:46 AM
EA needs to stay the hell away from these peeps and from all really. As long as they continue buying rights and companies they won't put any creative effort into their games and we'll just get stuck with mediocrity. For example, what motivates EA to make a good Madden if they have the rights to the NFL? EA has good games don't get me wrong but I hope they don't end up taking over take 2.
MrJawbreakingEquilibrium 5/20/2008 9:14:39 AM
I don't think that they bought 2K because 2K belongs to Take-Two. And I don't think Take-Two is selling. I have twenty or something shares in Take-Two and the price Friday and right now is higher than what EA is offering. The letter I got in the mail from Take-Two encouraged us not to sell and said give them a chance to prove to you that it's a bad idea; in so many words. I have hope for it.<BR /><BR />Yeah, there's no way that Take-Two sold 2K to EA. That's another big seller for them and they have a movie coming out. Edit: Yeah, no way. Take-Two still owns Bioshock.
scytheofluna 5/20/2008 2:04:34 PM
EA lost it's creative edge a decade ago. With franchises under the Take Two banner like GTA Bully, Bioshock, Prey, The Darkness, and with 2K publishing stuff for Bethesda it's no wonder EA is interested but Take Two would be crazy to bite. It's bad enough that EA got it's mitts on Bioware but it appears that they're going to leave them alone to do their thing. If their interference inhibited Mass Effects future the consequences would be dire. EA can't even make a good BATMAN game. How much imagination does it take to make a good BATMAN game? Give me a creative development job and a team of programming gearheads and I could do the Dark Knight justice, but they aren't even bothering with a game for the upcoming film after the "Splinter Cell with a cape" disasterpiece that was the "Batman Begins" game. Pathetic. Keep your shares buddy. I'm tempted to buy some just to keep em' outta' EA's hands.
stupidmania 5/22/2008 4:20:13 AM
I use to love madden back on the gensis. Now i refuse to play it since EA told me this is the only way i can play NFL games. Kinda like Vince with wrestling. When one person owes everything and is to paronid or scared to let someone with a DIFFERNT version run something that is suppose to be a DIFFERNT product it's the same garbage. That being said NFL tour was a nice break away from the pack.
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