Deadline Day for EA-Take Two Takeover
Deadline Day for EA-Take Two Takeover
May 16, 2008
Today is the deadline for shareholders of Grand Theft Auto IV publisher Take Two Interactive to accept Electronic Art's tender offer of $25.74.
So, will the deal get done?
Probably not - at least not today. Forbes speculates that EA will extend its deadline. Adding a little sweetener to the offer wouldn't hurt, either.
Oft-quoted Wedbush-Morgan analyst told Forbes that EA screwed up by making its initial offer too high:
Wedbush Morgan analyst Michael Pachter believes Electronic Arts started by offering too much for the company. EA could have started its bidding at $22 a share, or $1.7 billion...
By publicly starting at $26, then a rich 52% premium, EA must have figured Take-Two would jump at the offer. Zelnick Media was, after all, brought on in 2007 to turn around the faltering Take-Two. Instead, Zelnick stonewalled. "EA didn't know how to react," says Pachter.
Meanwhile, analyst Colin Sebastian told the San Francisco Chronicle:
I think it's more than likely the deal gets hammered out. Maybe it happens at a slightly higher price, but it's good for shareholders.
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Posted 09/05/08 at 08:40pm
BlackIce: @Zippy: Yeah, it does. Fucking thing..
BlackIce: @Zippy: Yeah, it does. Fucking thing..
Posted 09/05/08 at 07:31pm
MaskedPixelante: This new Jack picture should be the official picture whenever there's an article about Jack.
MaskedPixelante: This new Jack picture should be the official picture whenever there's an article about Jack.
Posted 09/05/08 at 07:19pm
ZippyDSMlee: Tyler Baumbarger: Iuse <br/> withno troubl, it dose like catching links as spam tho.
ZippyDSMlee: Tyler Baumbarger: Iuse <br/> withno troubl, it dose like catching links as spam tho.
Posted 09/05/08 at 07:11pm
BunchaKneejerks: Couldn't sleep 'till I got this one last idea for a 'shop out my head.
BunchaKneejerks: Couldn't sleep 'till I got this one last idea for a 'shop out my head.
Posted 09/05/08 at 06:35pm
Tyler Baumbarger: Hmm, maybe I should take the <hr/> off of my sig. Keeps being flagged as spam.
Tyler Baumbarger: Hmm, maybe I should take the <hr/> off of my sig. Keeps being flagged as spam.
Posted 09/05/08 at 06:12pm
Freyar: I do love Italian foods..
Freyar: I do love Italian foods..
Posted 09/05/08 at 06:10pm
ZippyDSMlee: Freyar: Then you must agree I iz not quit "humanz" either :P I dunno what worse thinking your "Garfield " or thinking your odie trying to be as smart as Garfield. =0-o= UHg I fail ! but then the joy of life is trying not to. ^_~
ZippyDSMlee: Freyar: Then you must agree I iz not quit "humanz" either :P I dunno what worse thinking your "Garfield " or thinking your odie trying to be as smart as Garfield. =0-o= UHg I fail ! but then the joy of life is trying not to. ^_~
Posted 09/05/08 at 06:05pm
Freyar: I recognized the Garfield joke. *grin*
Freyar: I recognized the Garfield joke. *grin*
Posted 09/05/08 at 06:04pm
ZippyDSMlee: Freyar: No but I could probably mail self to you in lil pieces :P last time I went brown box I wound up in Abudobie... (Garfield joke BTW). Sadly I am in the US =0_o=
ZippyDSMlee: Freyar: No but I could probably mail self to you in lil pieces :P last time I went brown box I wound up in Abudobie... (Garfield joke BTW). Sadly I am in the US =0_o=
Posted 09/05/08 at 05:56pm
Freyar: Are you British? Otherwise you won't have a hope in hell of queing me.
Freyar: Are you British? Otherwise you won't have a hope in hell of queing me.
Posted 09/05/08 at 05:51pm
ZippyDSMlee: Freyar:*chases you with my battered tung* I'll que uuuu!!!!! :P
ZippyDSMlee: Freyar:*chases you with my battered tung* I'll que uuuu!!!!! :P
Posted 09/05/08 at 05:32pm
Freyar: We won't blame you for an outage. :P Maybe you should get someone to help you that's more land-locked? Just kidding.
Freyar: We won't blame you for an outage. :P Maybe you should get someone to help you that's more land-locked? Just kidding.
Posted 09/05/08 at 05:27pm
HarmlessBunny: Eeep sorry to hear that.
HarmlessBunny: Eeep sorry to hear that.
Posted 09/05/08 at 05:25pm
gamepolitics: oops, up here it's actually hurricane hanna, which we are supposed to get a taste of tomorrow
gamepolitics: oops, up here it's actually hurricane hanna, which we are supposed to get a taste of tomorrow
Posted 09/05/08 at 05:25pm
HarmlessBunny: LOL
HarmlessBunny: LOL
Posted 09/05/08 at 05:25pm
gamepolitics: i gotta get it all done before hurricane ike hits, LOL
gamepolitics: i gotta get it all done before hurricane ike hits, LOL
Posted 09/05/08 at 05:15pm
HarmlessBunny: Yeeesh Dennis, just overworking it on a friday :P
HarmlessBunny: Yeeesh Dennis, just overworking it on a friday :P
Posted 09/05/08 at 04:45pm
ZippyDSMlee: gamepolitics:GO GP!!! =^^=
ZippyDSMlee: gamepolitics:GO GP!!! =^^=
Posted 09/05/08 at 04:31pm
gamepolitics: not a bad day's work, LOL
gamepolitics: not a bad day's work, LOL
Posted 09/05/08 at 04:29pm
gamepolitics: so, that would make 13 stories, one threatened lawsuit and one pissed-off PS3 designer
gamepolitics: so, that would make 13 stories, one threatened lawsuit and one pissed-off PS3 designer
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Game Politics and Game Politics logo are trademarks of the ECA.
Comments
Hmmm... I truly hope this deal doesn't go thru, since EA owning R* (and the rest of Take2) is not going to be a good thing. But generally the exact opposite of whatever Pachter predicts ends up happening, so I'm a little concerned now
-- mostly harmless
I hope FTC denies this because it would create a monopoly. Ugh... EA is destroying games for the purists who enjoy GOOD games that stretch boundaries.
EA has become what Denny's is to the restaurant industry.
-Loudspeaker
"Volume helps to get a point across but sharp teeth are better."
In a situation like this, the word "deadline" becomes essentially meaningless when you repeatedly demonstrate your willingness to extend your deadline again and again and again...
Is there a polite business-speak way to say "the reason we aren't selling isn't money, it's because you guys are complete idiots who buy studios, make them shit out half-baked cash-in games, and then shut them down when these bug-riddled turds don't magically leap off the shelves"?
Yep, I believe there is a simpler way of saying that. "No"
Good for shareholders? **** the shareholders! Then again, if I bought a ton of T2 stock when it was in the low teens and EA came along and offered me a significant amount more for the shares I'd probably take them up on it too.... Wouldn't mean they'd succeed anyway. I would hope the FTC would step in considering how bad this deal would be for everyone..
My guess is that EA will probably end up with a good chunk of Take 2 stock, but not enough to gain controlling interest over the company.
Its amazing how EA said that Take Two had to make a decision by no later than April 16th, they extended that and now they want to extend it again. Just more proof that EA only is in it for the money and not for making good games.
T2 to EA: We refuse to sell our company to you because you turn awesome studios to shit. FUCK OFF YOU MONOPOLISTIC PRICKS!
-GRIZZAM PRIME(c)is property of the U.S. Marine Corp. Wetworks Dept., and also The Incredible Hulk-GRIZZAM PRIME is not to be associated with GRIZZAM 512 or any other GRIZZAM entity under penalty of law, so sayith ZARATHOS.
2 reasons why this will NEVER happen:
1) EA buying T2 would (probably, but not 100 % sure) qualify as a monopoly and those are bad for the market.
2) R* and T2 are raking in millions (possibly billions by now) from the GTA IV sales. and EA, being the greedy power-hungry pricks they are, want in on the profits.
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