Take-Two Disses EA's Latest Deadline Extension

May 19, 2008 -

Take-Two Interactive is urging stockholders to reject today's extension by EA of its deadline to tender T2 shares at the $25.74 offering price.

Of the extension, Take Two chairman Strauss Zelnick said:

This is the same highly conditional proposal that EA offered Take-Two stockholders on March 13, 2008, which our Board of Directors thoroughly reviewed and unanimously determined to be inadequate and contrary to the best interests of Take-Two’s stockholders. As such, the recommendation of our Board of Directors that stockholders not tender their shares to EA remains unchanged...

Take Two CEO Ben Feder added:

EA’s highly conditional offer fails to compensate our stockholders for our exceptional portfolio of intellectual property... In the last several weeks, our strategy and Take-Two’s value have been vividly demonstrated by... The record-breaking sales performance of Grand Theft Auto IV... We have also just announced an agreement with Universal Pictures to make BioShock, the universally acclaimed hit video game, into a feature film... EA’s proposal undervalues our Company.

GP: The operative phrase around T2 HQ seems to be "highly conditional..."


Comments

Re: Take-Two Disses EA's Latest Deadline Extension

That's the spirit T2! Show Unicron-I mean EA that you're no pushover!

Re: Take-Two Disses EA's Latest Deadline Extension

Well said, Zelnick. Well said, Feder.

Now, I've said something like this before, and I'll say it now: What if Paul Eibeler were still Take-Two CEO? Would he have decided the same way Zelnick did?

Re: Take-Two Disses EA's Latest Deadline Extension

Let them have it T2, let them have it.

Re: Take-Two Disses EA's Latest Deadline Extension

Yeah...sucks for you EA, that's what you get for sucking so much...

T2 ftw!

Re: Take-Two Disses EA's Latest Deadline Extension

"EA’s proposal undervalues our Company."

Same for any other studio EA ever purchased.

Re: Take-Two Disses EA's Latest Deadline Extension

Not much to add here, we just sit, watch, and wait for EA to either win as Darth Vader, or to see Take Two to survive as one of the last remaining Jedi. (LucasArts is gonna sue me.)

---- There is a limit for both politicians against video games, and video games against politicians.

Re: Take-Two Disses EA's Latest Deadline Extension

 give it up EA your balls are being handed to you

Re: Take-Two Disses EA's Latest Deadline Extension

Does anyone know what those "conditions" are?

Good for them

To me those comments read as close to spitting in EA's face as they can get and still sound professional. Good to see.

 
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Cheater87Look what FINALLY came to Australia uncut! http://www.gamespot.com/articles/left-4-dead-2-gets-reclassified-in-australia/1100-6422038/09/02/2014 - 6:49am
Andrew EisenHence the "Uh, yeah. Obviously."09/02/2014 - 12:53am
SleakerI think Nintendo has proven over the last 2 years that it doesn't.09/02/2014 - 12:31am
Andrew EisenSleaker - Uh, yeah. Obviously.09/01/2014 - 8:20pm
Sleaker@AE - exclusives do not a console business make.09/01/2014 - 8:03pm
Papa MidnightI find it disappointing that, despite the presence of a snopes article and multiple articles countering it, people are still spreading a fake news story about a "SWATter" being sentenced to X (because the number seems to keep changing) years in prison.09/01/2014 - 5:08pm
Papa MidnightAnd resulting in PC gaming continuing to be held back by developer habits09/01/2014 - 5:07pm
Papa MidnightI find it disappointing that the current gen of consoles is representative of 2009-2010 in PC gaming, and will be the bar by which games are released over the next 8 years - resulting in more years of poor PC ports (if they're ever ported)09/01/2014 - 5:06pm
Andrew EisenMeanwhile, 6 of Wii U's top 12 are exclusive: Mario 3D World, Nintendo Land, Pikmin 3, Mario Kart 8, Wonderful 101, and ZombiU. (Wind Waker HD is on the list too but I didn't count it.)09/01/2014 - 4:36pm
Andrew EisenLikewise, only two of Xbox One's top 12 are exclusive: Dead Rising 3 and Ryse: Son of Rome (if you ignore a PC release later this year).09/01/2014 - 4:34pm
Andrew EisenNot to disrespect the current gen of consoles but I find it telling that of the "12 Best Games For The PS4" (per Kotaku), only two are exclusive to the system: Infamous: Second Son and Resogun.09/01/2014 - 4:30pm
MaskedPixelantehttp://www.joystiq.com/2014/09/01/beyond-two-souls-ps4-trophies-emerge-directors-cut-reported/ MMM MMM, nothing quire like reheated last gen games to make you appreciate the 400 bucks you spent on a new console.09/01/2014 - 4:24pm
Andrew EisenThat's actually a super depressing thought, that a bunch of retweeters are taking that pic as an illustration of the actual issue instead of an example of a complete misunderstanding of it.09/01/2014 - 4:20pm
Andrew EisenObviously, the picture was created by someone who doesn't understand what the issue actually is (or, possibly, someone trying to satire said misunderstanding).09/01/2014 - 4:10pm
Papa MidnightPeople fear and attack what they do not understand.09/01/2014 - 4:04pm
Papa MidnightWell, let's not forget. Someone held their hand in a peace sign a few weeks ago and people started claiming it was a gang sign. Or a police chief displayed the hand signal of their fraternity and was accused of the same.09/01/2014 - 4:04pm
SleakerEither people don't understand that what the picture is saying is true, or the picture was created out of a misunderstanding of what sexism is.09/01/2014 - 3:52pm
Sleaker@AE ok yah that's where the kind of confusion I'm getting. Your tweet can be taken to mean two different things.09/01/2014 - 3:51pm
Andrew EisenSleaker - No. No, not even remotely. The pic attached to my tweet was not made by me; it's not a statement I'm making. It's an illustration of the complete misunderstanding of the issue my tweet is referring to.09/01/2014 - 3:13pm
Papa MidnightIn other news, Netflix states why it paid Comcast: http://money.cnn.com/2014/08/29/technology/netflix-comcast/index.html?hpt=hp_t209/01/2014 - 3:10pm
 

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