FTC gives EA its blessing to go ahead with Take-Two takeover |
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The wait is finally over for Electronic Arts -- at least as far as the Fedral Trade Commission is concerned. A couple of months ago, EA made an agreement with the FTC stating that they will hold out on buying Take-Two until one of these two things happen: a) FTC finishes its investigation on the takeover bid, or b) 45 days pass after EA complies with an information request from FTC.
Well it looks like it's scenario A that happened as the Federal Trade Commission has now given EA the green light on their proposal for the Take-Two acquisition. The conclusion of the non-public investigation, which was to determine whether EA's acquisition of T2 may violoate Section 7 of the Clayton Act or Section 5 of the FTC Act, was that the potential merger would not substantially lessen competition in the games market.
A letter sent by the FTC to both companies involved read, "Upon further review of this matter, it now appears that no additional action by the Commission is warranted at this time. Accordingly, the investigation has been closed."
Talks are still going on between the two companies, but it does look like it's about to come to a close. What's keeping the debate raging on is the issue on the appropriate per-share asking price. With this FTC development, it looks like Pachter sure is a step closer to proving his prediction true: EA will win out this round.
Related EA-Take-Two acquisition Articles:
- Pachter's nth take on Take-Two-EA takeover: T2 negotiating level down, EA with friendly terms
- EA bid for Take-Two now FTC compliant, no action until August planned
- Take-Two agrees to give FTC information on possible EA deal
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Comments [refresh]
how would EA buying T2 not significantly reduce competition in the market? doesnt T2 make all of the 2k sports games? EA's only competition in that market? The FTC has been paid off i swear. they pretty much said "buying your competition wont reduce competition.
Well GTA, you had a good run. maybe there's a chance we can save you but things are not looking up.
GTA will still be here but a bit childish.
--feature GTA-
I going to go get me a hooker
...come on ***** get in
WTF
Get in already.
Where you going?
This game sucks! (exits game)
The only good GTA games were GTA3 & Vice City. San Andreas & GTA4 sucked.
Watch the slow death of Take 2 over the coming 6 months. In a year they`ll be another forgotten memory. Just as with Westwood and Origin. R.I.P Take 2.
Dont expect to ever see a single Take 2 game again in the way that they`ve been previously.
Thanks for saying exactly what I was thinking. I can't believe the FTC sees it that way. Somebodies getting something nice and it isn't Take 2 or the consumer.
Your joking right? Oh wait, no, your the one who keeps making idiotic comments on a lot of subjects. You must be a little kid because an intelligent adult would think otherwise.
I can see EA selling T2 classics games and making money from them. Somethings not right about that.
Such a fantastic developer. They truly have made some really kickass games. From Bioshock to many of the 2K sports games, they have proven that they're a good developer. If EA ends up getting them, it really won't matter. It's not like there will be big changes.
Bioware is one of my favorite developers, but EA picked them up recently. Is Bioware now a bad developer? No way, there still Bioware.
I see this takeover as an advantage (if it happens I mean).
"they have proven that they're a good developer. If EA ends up getting them, it really won't matter. It's not like there will be big changes."
Have a read up on the effect than an EA take over had on Westwood and Origin. The changes that occured as soon as the take over occured were massive, and the companies were milked of all the good games they had, and only the most succesful of which continued onto see later sequels. The rest of the games became completely forgotten about.
With the constant rejection on T2's part EA keeps going, it looks like they'll end up eating Take two without consent.
I hate EA...
So now EA is the king of sports games
i like being right. lol.