Vicious cycle: EA extends T2's deadline again, offer unchanged |
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Electronic Arts has once again extended its buyout offer to Take-Two Interactive, the parent company of the studio that developed Grand Theft Auto IV (Xbox 360, PlayStation 3). This is the fourth time they've done so... although we're wondering how many more times they do this before we actually lose count.
EA's new deadline is now on July 18, whereas the previous offer expired just yesterday. Their price offer of US$25.47 per share - which totals up to about US$ 2 billion - remains unchanged, despite Take-Two's protests that the offer undervalues their company. Considering the huge sales GTA IV got, this isn't surprising. EA disagrees, saying:
We congratulate Rockstar on the successful launch of GTA IV but believe our offer reflects a full and fair price based on the long-term value of Take-Two's entire operation.
You may be wondering what EA has to gain from extending their offers so often. One possible reason is how this will give the Federal Trade Commission (FTC) more time to investigate the antitrust review of the acquisition. In fact, Take-Two's currently tangling with the FTC about the whole thing. It doesn't look like this whole thing will end anytime soon.
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Comments [refresh]
Seriously.
Desperate much?
This is starting to get sad. The cordial takeover failed. The hostile takeover failed. They're not sweetening the pot (because they've probably overextended themselves too much as it is). I, personally, wish they'd just give up already.