Take Two's Strauss Zelnick: EA's new offer still 'inadequate' |
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It seems like fishes still aren't biting in the fishing hole that is known as Take-Two Interactive. Despite giving the company an extension to its new tender offer to acquire Take Two, it seems that Electronic Arts still won't be getting their hands on the Grand Theft Auto creators any time soon.After receiving the newly revised offer, Take Two chairman Strauss Zelnick criticized EA's actions saying it was once again undervaluing their company. During the recent stockholders meeting, the board of directors unanimously determined that the offer was "inadequate and contrary to the best interests of Take Two's stockholders".
EA has currently accumulated 6.4 million shares, roughly equivalent to around 8.3 percent shares. Due to the new lower offer forwarded by EA, the stockholders voted to award a further 1.5 million shares to ZelnickMedia instead.
Zelnick mentioned that despite the poor offer from EA, the board is determined to explore other strategic alternatives to help maximize stockholder value. There were even reports of other parties expressing interest in buying the company's shares, with formal discussions to begin following the launch of Grand Theft Auto 4 (Xbox 360, PlayStation 3).
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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!
There's no NFL 2k anymore. EA has an agreement with NFL that they will be the only one who can use Team and Player names in a game.
2k is only doing All-Pro Football.