Take-Two Board Rejects EA Bid

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Take-Two Interactive told its shareholders today to reject a $2 billion bid from Electronic Arts. Those shareholders must be stronger than I, a $2 billion bid seems mighty tempting. Then again, I can be tempted by $2 dollars…but that’s a different story altogether.

The $26-per-share bid turned hostile March 13 when EA took the offer directly to shareholders. Take-Two's board had asked for 10 business days to mull over the decision and that time ran out Wednesday. 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.
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Rejoice! For now.. if at all. I feel like a murderer every time I purchase an EA published title. A murdered of good games.. :(
 
Idiots should have taken the deal. Anyone with two brain cells and a sense of history knows you dont tell EA "No" and then turn around and walk away. EA is not a coporation to be messed with.

When they come for you you got two options. Take the deal they present to you or bargain for a better deal. Thats it.
 
DemonDiablo said:
Idiots should have taken the deal. Anyone with two brain cells and a sense of history knows you dont tell EA "No" and then turn around and walk away. EA is not a coporation to be messed with.

When they come for you you got two options. Take the deal they present to you or bargain for a better deal. Thats it.
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oh sure thats a smart idea, let them take everything over while we're at it. thank god you weren't in any position of power when hitler was around. are you french by any chance?
 
DemonDiablo said:
Idiots should have taken the deal. Anyone with two brain cells and a sense of history knows you dont tell EA "No" and then turn around and walk away. EA is not a coporation to be messed with.
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I don't get it. Don't mess with them or else? Or else what? They'll end up like Ubisoft?

How's Ubi doing anyway? Isn't EA the majority holder?
 
Just because EA is a major corporation with tons of buying power doesn't mean their hostile offers can't be rejected.

Ask the CO of a company who said "No." to Wal-Mart. They are doing quite well without them. Take-two can do the same.
 
DemonDiablo said:
Idiots should have taken the deal. Anyone with two brain cells and a sense of history knows you dont tell EA "No" and then turn around and walk away. EA is not a coporation to be messed with.

When they come for you you got two options. Take the deal they present to you or bargain for a better deal. Thats it.
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Im just waiting to see what happens to Warrhammer online since EA took over mythic, hopefully they wont kill it or will it end up like Motor City online?
 
DemonDiablo said:
Idiots should have taken the deal. Anyone with two brain cells and a sense of history knows you dont tell EA "No" and then turn around and walk away. EA is not a coporation to be messed with.

When they come for you you got two options. Take the deal they present to you or bargain for a better deal. Thats it.
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Thank god you you don't work in any managerial positions.

EA needs to come up with MORE ORIGINAL IP's and stop killing off(buying) good smaller companies.
 
f EA for giving the PC a PS2 port of NHL08.

i'd like to stab whoever made that decision right in the eyeball.
 
Or else what???

Or else they will stage a hostile takeover, that's what. EA has a lot of options. They could take the offer straight to the shareholders, or have the shareholders vote in a new board of directors. Or they could have the shareholders sue the board of directors for not acting in their best interests.

That being said, I am not surprised that the board did this. Voting to accept EA’s offer is like firing yourself. When Take-Two is eventually taken over, most of those board members will be out on the street.

And for the record, being a corporate board member is officially the sweetest job ever. You do almost nothing and get HUGE $$$$ for it.
 
snaggletooth said:
f EA for giving the PC a PS2 port of NHL08.

i'd like to stab whoever made that decision right in the eyeball.
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Ports are cheaper to produce, QA, market.. this decision allows EA to stretch labour, resouces, facilities costs,... over more development projects.

There is no way that EA would miss a year of NHL08 sales cause they were tight-budgeted. Doesn't look good to shareholders. I don't think they expected this years NHL release to do very well anyway, considering the other hockey offerings out there for such a small market to begin with.

As much as I don't like it, I agree with it from a business perspective.
 
I would have taken the deal, but thats just me. Asking your investors to hold back on a lucrative deal in hopes of getting more is quite the gamble, however, so is investing I suppose.
 
They don't want to deal until GTAIV is on the shelves. Why take a price now, when your biggest title is shipping soon? This is why EA is in such a rush to get it now.

FYI stonedwaldo420, they voted in a poison pill, so EA won't be trying the end run around either.

They did the right thing, once GTAIV comes out and unless it's the biggest stinker ever (doubtful) they will be asking a much higher price.
 
This couldn't be more true and i'm glad there shareholders now this as well. It's good to see them hold out. I'm hoping they hold all together. No EA bashing but iwant to see Take Two stand on it's own.

AARGH! said:
They don't want to deal until GTAIV is on the shelves. Why take a price now, when your biggest title is shipping soon? This is why EA is in such a rush to get it now.

FYI stonedwaldo420, they voted in a poison pill, so EA won't be trying the end run around either.

They did the right thing, once GTAIV comes out and unless it's the biggest stinker ever (doubtful) they will be asking a much higher price.
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Good. EA can't run what they got much less take on more.
 
I guess EA is the Jennings & Rall of Game companies...

DemonDiablo said:
Idiots should have taken the deal. Anyone with two brain cells and a sense of history knows you dont tell EA "No" and then turn around and walk away. EA is not a coporation to be messed with.

When they come for you you got two options. Take the deal they present to you or bargain for a better deal. Thats it.
Click to expand...
 
I thought it was pretty obvious that EA was trying to finagle a quick takeover before GTA4. It actually seemed to be a stupid move because it was so blatant of what they were trying to accomplish.

EA: Take it or Leave it.
TakeTwo: GTA4 comes out in less than a month, try again.
EA: You're gonna be sorry.
TakeTwo: $4+ million in projected sales from GTA4 alone? LOL. Try buying Bungie a month before Halo 4 releases. Tell us how it goes...
EA: We might offer less if it bombs.
Take Two: ROFLCOPTER
 
I wonder why the stock hasn't tanked to pre-buyout rumor levels. I suppose it is because the possibility of a buyout is still possible, or that nobody wants to be the first one out of the boat in case something changes, but yeah, strange.
 
AARGH! said:
They don't want to deal until GTAIV is on the shelves. Why take a price now, when your biggest title is shipping soon? This is why EA is in such a rush to get it now.

FYI stonedwaldo420, they voted in a poison pill, so EA won't be trying the end run around either.

They did the right thing, once GTAIV comes out and unless it's the biggest stinker ever (doubtful) they will be asking a much higher price.
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God i wish i was rich. If i had close to 18-20% stock in their company i would buy that last 2 percent to trigger the poison pill just because i would like to see what would happen if someone just walked over and pressed the button with no desire to take them over.. Maybe this is why karma hasnt made me rich
 
THRESHIN said:
oh sure thats a smart idea, let them take everything over while we're at it. thank god you weren't in any position of power when hitler was around. are you french by any chance?
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Wow, didn't take long to invoke Godwin's law.
 
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