No go on EA merger: Take-Two looking at other offers

Posted Feb 29, 2008 at 6:06AM EST by QJ Staff

Listed in: News, Titles Tags: Electronic Arts, Take-Two Interactive

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It looks like Electronic Arts will have to rethink the offer it forwarded to Take-Two Interactive on a possible company buyout. Take-Two rejected the US$ 2 billion offer from EA and mentioned that there still are other companies interesting in buying it.

While there have been no formal offers so far, Take-Two mentioned that EA has undervalued its offer in buying out the company and they it did not factor in the recent turnaround efforts Take-Two has been pushing lately.

A filing Take-Two issued with the Securities and Exchange Commission last Thursday stated that it "has not engaged in any substantive discussions with any party (including EA) with respect to a business combination".

The company refused to comment to shareholders any more past this statement regarding any possible merger discussions unless it is legally required to do so. Take-Two explained that it is still willing to open discussions with EA, but not until April 30, when Grand Theft Auto IV (for PlayStation 3 and Xbox 360) finally hits store shelves.

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Comments 

 

# good for take two — groupleader 2008-02-29 07:22

They know how much that would wreck the WHOLE sports gaming genre. I'm hoping that somone cares about gamers and decides to give EA the finger (both of them up high and prominant).

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# good news — wolf0491 2008-02-29 10:22

his is goo

i didn't want EA to buy them.

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# cha — hush404 2008-02-29 10:54

I agree completely. Actually, I think Ubisoft would make the perfect partner/ buyout(er) for TakeTwo.

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# yay — Popson 2008-02-29 11:44

This makes me happy. EA is really getting a bad image and if they keep going the way they are, it will only be a matter of time before the mainstream consumer will realize how terrible their games are getting.

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# really good news... — Someone_PR 2008-02-29 12:34

if they have crappy sport games... imagine if they have the monopoly of it?

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# in your face EA — Sr_Moska 2008-02-29 21:12

you will not tone down GTA! LOLZ!

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