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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.