News: Take-Two Reject $2Billion EA Buyout Page 1

Take-Two Reject $2Billion EA Buyout

26.03.2008

After recent talks of EA offering Take-Two wads of money, the company's board has rejected a bid of $2 Billion.

According to Yahoo! Finance, Take-Two declined EA's offer stating its not enough and in the same breath revealed it will explore alternatives to maximize its value for shareholders.

Take-Two took several steps to prevent EA from going through with a hostile takeover. It adopted a 180-day shareholders' rights agreement, also known as a "poison pill." It kicks in if an outsider acquires 20 percent of Take-Two's shares or if an existing shareholder who already owns this much buys another 2 percent.

Chairman Strauss Zelnick said the rights agreement "will not, and is not intended to, prevent a takeover of the company on terms that are fair to and in the best interests of all stockholders."

Take-Two said it is willing to start preliminary talks, including with EA, before April 29 under confidentiality agreements.

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Topguy4 26.03.2008#1

Good! I'm so glad to hear this, I'ts about time somebody stuck it to the man!! In this case Damn EA. I'm so glad they stood upto them, Maybe now EA will release a f**king half decent game instead of buying everybody out and taking credits coz they suck!

Fatman 26.03.2008#2

EA needs to back off.

A fail so epic, it may just be a win.

D_prOdigy 26.03.2008#3

Take Two have admitted they welcome takeover bids, but they're waiting for the release of GTAIV. Once that baby arrives and the share prices soar, they'll get a damn site more than $2bn

Simes 26.03.2008#4

Sorry EA but your "release own console" plan is failing.

tiamat1990 27.03.2008#5

Jesus Christ someone seriously needs to step in to stop this monopoly from happening. EA is just trying to take over the entire market.

Martin_ 27.03.2008#6

Electronic Arts is basically the gaming industry\'s arm of McDonalds, or The Man. Anything which slows down their gradual usurpation of our once fair industry is a welcome thing. Even if that thing involves wearing a wreath of nettles on my bollocks for three monts- I\'d do it. Microsoft, Sony, Nintendo, and EA are The Man, and must be destroyed at all costs. At least SEGA really cared about games. Enough to chuck silly amounts of money at amazing things like Shenmue which would never have made any money in a million years.

( Edited 27.03.2008 00:39 by Oni-Ninja )

Zapp 27.03.2008#7

Oni-Ninja said:
At least SEGA really cared about games. Enough to chuck silly amounts of money at amazing things like Shenmue which would never have made any money in a million years.

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mooojc 27.03.2008#8

EA got owned.

Martin_ 27.03.2008#9

No Avatar said:
And SONIC RIDERZ, SONIC [360], Sega Superstar tennis...

They aren't SEGA games. SEGA died with the Dreamcast, in 2002. Those games all came out after then, and are hence, Sammy games. Though SEGA Superstar Tennis is supposed to be pretty awesome.

jb 28.03.2008#10

Thank god. EA can't just throw money at things and expect the world to move.

Oni-Ninja said:
They aren't SEGA games. SEGA died with the Dreamcast, in 2002. Those games all came out after then, and are hence, Sammy games. Though SEGA Superstar Tennis is supposed to be pretty awesome.

SST is pretty good, runs like Virtua Tennis with a Sega skin of characters! Good fun

Cubed3 Admin/Founder & Designer

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