EA lowers bid to Take-Two, extends deadline to mid-May |
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Electronic Arts has decided to extend its Friday deadline for Take-Two Interactive to accept its purchase offer worth US$ 2 billion. The Grand Theft Auto 4 (Xbox 360, PlayStation 3) publisher now has until May 16 to accept the deal, but at a lower bid rate.EA's bid has dipped from a high of US$ 27 per share to US$ 26.74. The offer value was reduced following stock holder approval of a stock incentive plan.
Business analysts say that EA may still raise its offer yet again by a dollar or two depending on how sales of Take-Two's Grand Theft Auto 4 stack up. The game is expected to rack up 5 million units in the first two weeks off shelves.
EA is currently the world's biggest third-party video game publisher, and it hopes to remain on top amidst challenges from rivals like Activision Blizzard, Ubisoft, and more. If it can acquire Take-Two, the publisher's throne is pretty much secure.
Analysts warn, however, that EA cannot overbid for the acquisition of Take-Two. Analyst Todd Mitchell says EA has a large revenue mark, but its earning figures are pretty low. We can expect the two publishers to play this one by ear in the next few weeks.
The Grand Theft Auto franchise isn't the only thing of great value in EA's bid to acquire Take-Two. Pulling this off will eliminate competing sports titles from Take-Two's 2K Sports division.
Via Reuters
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Comments [refresh]
Let's not forget that 2K Games, and more importantly 2K Sports are both subsidiaries of Take-Two Interactive. Let me remind you that some of 2K Sports' titles are in direct competition with some of EA Sports' games. NBA 2K, NFL 2K, NHL 2K etc. compete with the likes of EA Sports' NBA Live, Madden NFL and NHL titles. Firms love to take out the competition and create a monopoly, one which comes to mind out of gaming is WWE. Some of you may remember when WWE bought out ECW and then WCW. For a few years, WWE had little or no competition.
So although Rockstar's GTA is a massive game and an acquisition any firm would love, it may not be the only reason why EA want to take control of Take-Two.
Anywhooo, I love GTA and in my opinion it's the best game series ever. I can't wait for it to be released to the world on April 29th!
they want you take 2
just hold off price will go up eventually especially because of gta4
I don't wanna go back to NBA Live after switching to NBA 2K!!!! :)
...give it up EA. They won't accept. Just back the hell off and stop trying to jump on the merger bandwagon.
Keep saying no Take 2. EA needs to die.
Even Microsoft isn`t as bad as EA and thats saying something.
I dont want them controlling GTA or any other of Take 2`s games. They totally stuff them up.
Plus its bad for competition. Look at what EA did with Bullfrog, Westwood and Origin and you`ll know what awaits Take 2 if they ever say yes.
All of their other games will be forgotten about, and we`ll get yearly new GTA games till thats used up, and then Take 2 will be forgotten about.