Did Anyone Notice that Take-Two...

July 1, 2008 -

Did anyone notice that Take-Two (NASDAQ: TTWO) closed today at $25.14, or sixty cents under EA's current (and apparently endlessly renewable) $25.74 tender offer?

By our count it's at least the second time that TTWO has closed below the tender price in the past week, admittedly a rocky one for Wall Street. It seems kind of strange, since EA will buy all the TTWO you care to sell them at 25.74. Why would anyone sell below that price?

For interpretation, GamePolitics turns to Wedbush-Morgan super-analyst Michael Pachter:

GP: Mike, what do you make of TTWO closing well below the EA tender price of 25.74? That would seem to be a natural floor…

Pachter: The daily [share] price is the probability-weighted price of a [T2-EA] deal happening. [The expectation of] no deal is [priced] around $17-20, a deal at $28 has a relatively high probability. Before, the arbs placed a higher chance of a deal, and a higher [share] price.

GP: So are you saying that today's close $.60 under the [EA] tender price reflects a sense that the deal is now less likely?

Pachter: A combination of less likely or a lower expected deal price.  Probably more of the latter, as a tribute to EA's discipline.  Still very likely that a deal happens at $27-28.


Comments

Re: Did Anyone Notice that Take-Two...

Thanks good job;

Btw, I think Atari and Midway will drop out too, but mostly travesti because  these guys have done nothing travesti or little and need to start saving costs. and dizi izle

YES.

Now I don't have to get off my ass for the important shit anymore!

Whats next, ordering pizza from Xbox live?

Wait... I think that sounds like a good idea.

But I think voting should MAKE you get off your ass, and see outside or a second while you go vote. I mean, your picking the president of the United States of America for God's Sake... least you can do is drive down there and punch out a card.

Re: Did Anyone Notice that Take-Two...

I'm all for freedom of ttnet vitamin speech and allowing rent a car game makers to put whatever they want in games, but there's one thing about this app that has me scratching my head.  Correct me if I'm wrong, but from araç kiralama the previous article araba kiralama on this I gathered that players can use Google maps in-game to find the other (real-life?) dealers in their area.  If this is the case, has travesti anyone considered what's stopping someone from using this app to actually move drugs between hands for reals?

But majority araba kiralama of their outrage araç kiralama stems from what it could DO TO children, not the content itself.  Talk to one of these people and you'll find they don't think any books kiralık araba should be banned from children.  Mention American Psycho and they talk about kiralık araç the redeeming value of using imagination to construct a story.  Reading, no matter what the content, is largely viewed as a consequenceless activity for people of any age.  The reason why I mention American Psycho is because of the content itself.  Gaming never has and likely never will have any scenes where someone has sex with a severed head.  Not gonna happen.  Yet despite this, they'll fight tooth and nail to protect their children from two boys kissing in Bully but whatever they read is harmless... yeah.

The entire arguement is kiralık oto based upon a social normality inflicted by luddites who can't figure out the controls for Halo so it's frightening and terrifying and obviously the cause of youth violence on the rise even though, in reality, it's in decline (which is actually a HUGE suprise given minibüs kiralama the economies status).  In  a perfect world, we would have parents that actually parent.  The idea of sales restrictions on media on oto kiralama any form to accomidate parental unwillingness to get involved with their child's life is the real problem to me.  Here I am, 32 years old, and being held up at a self-scan rent a car needing to show ID before I can buy a $10 M rated game all because Soccer Momthra can't be bothered to look at the crap Billy Genericallystupidson does in his free time.  It's too hard for her, so I have to suffer?

Re: Did Anyone Notice that Take-Two...

I'm all for freedom of ttnet vitamin speech and allowing rent a car game makers to put whatever they want in games, but there's one thing about this app that has me scratching my head.  Correct me if I'm wrong, but from araç kiralama the previous article araba kiralama on this I gathered that players can use Google maps in-game to find the other (real-life?) dealers in their area.  If this is the case, has travesti anyone considered what's stopping someone from using this app to actually move drugs between hands for reals?

But majority araba kiralama of their outrage araç kiralama stems from what it could DO TO children, not the content itself.  Talk to one of these people and you'll find they don't think any books kiralık araba should be banned from children.  Mention American Psycho and they talk about kiralık araç the redeeming value of using imagination to construct a story.  Reading, no matter what the content, is largely viewed as a consequenceless activity for people of any age.  The reason why I mention American Psycho is because of the content itself.  Gaming never has and likely never will have any scenes where someone has sex with a severed head.  Not gonna happen.  Yet despite this, they'll fight tooth and nail to protect their children from two boys kissing in Bully but whatever they read is harmless... yeah.

The entire arguement is kiralık oto based upon a social normality inflicted by luddites who can't figure out the controls for Halo so it's frightening and terrifying and obviously the cause of youth violence on the rise even though, in reality, it's in decline (which is actually a HUGE suprise given minibüs kiralama the economies status).  In  a perfect world, we would have parents that actually parent.  The idea of sales restrictions on media on oto kiralama any form to accomidate parental unwillingness to get involved with their child's life is the real problem to me.  Here I am, 32 years old, and being held up at a self-scan rent a car needing to show ID before I can buy a $10 M rated game all because Soccer Momthra can't be bothered to look at the crap Billy Genericallystupidson does in his free time.  It's too hard for her, so I have to suffer?

Re: Did Anyone Notice that Take-Two...

I posted here two months ago that I sold my Take Two stock because it was over valued, and I obviously was right, but Dennis MCCauley, that great ecomomist and legal titan, wouldn't publish my post.

Once again, I was right.  And it never gets old being right.  Does it get old being wrong so much, Dennis?

Jack Thompson

 

 

Who Cares

And how much did you get for your amazingly irrelevent deal Jack?  A few bucks?  Sold a few shares...and how many tens of thousands of shares comprise T2?  What you did was not even a drop in the bucket.  Add the fact that T2 shares fluctuate a few dollars is no surprise.  The Dow lost over 200 points in one day, and ended the week up 70 points.   In the last 6 months, Google has gone from over 700 a share to roughly 540 a share.  Big deal Jack, see you at the unemployment line.

Re: Did Anyone Notice that Take-Two...

Um... yes he did. Do you even read your OWN posts here anymore? I thought that's what you LIVED on!

Re: Did Anyone Notice that Take-Two...

so you admit to selling your stock to make a profit?

岩「…Ace beats Jack」

岩「…I can see why Hasselbeck's worried about fake guns killing fake people. afterall, she's a fake journalist on a fake news channel」

Re: Did Anyone Notice that Take-Two...

Let me ask you, Jack. Does it ever get so old being an annoying douche who always thinks he's right when in fact he's wrong 99.9% of the time? Does it get old, Jack? Not to mention that, even if Dennis DID mention that you sold your T2 stock no one on this site would care. Besides, why the hell were you owning T2 stock in the first place? I thought you hated them because they sell their EVILLLLLLLLLLL video games to children?! Which, by the way, you havent been able to prove or provide a single shred of evidence of. Have fun living in fanastyland disbarred, Jack.

Re: Did Anyone Notice that Take-Two...

If I remember the stories correctly, as stated by the fine individual who replied to my former post, he wished to force them to let him speak at the stock holder meetings. He was going to rally the stock holders against the management and get rid of their controversial projects.

Re: Did Anyone Notice that Take-Two...

And your point is what exactly?

 

I sold my stock in National Dairies, but I don't expect the Dairy Industry's magazines to report this. Stock is bought and sold all the time by private indivuduals such as ourselves, Sir. While you may be relevent to many topics I hardly see why your portfolio would be of interest to those here.

Re: Did Anyone Notice that Take-Two...

Well he made a big deal out of it when he bought it in the name of trying to get investor information/into the shareholder meeting. So it's been of peripheral interest to a couple of stories. Him selling it wouldn't likely be of particular note though, unless enough people bugged Dennis about it.

-Gray17

-Gray17

Re: Did Anyone Notice that Take-Two...

follow up on this...

a little old now, but will give you the idea of my ire....

 

dennis, maybe you can ask him to confirm some these sounds bites he's provided? :)

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stock...

Re: Did Anyone Notice that Take-Two...

Yep, Patcher's pretty much batting 0.000. Particularly amusing is his instance that he'd already factored in GTAIV sales when he called EA's offer a fair price, despite the fact that he grossly underestimated what those sales would be.

Personally I find his current insistance that "Still very likely that a deal happens at $27-28." to be quite amusing. EA hasn't budged on their offer price for months now. What makes him so sure they'll suddenly up their offering price? Does he really think the next Take Two reinteration of their rejection will finally move EA?

-Gray17

-Gray17

Re: Did Anyone Notice that Take-Two...

Pachter being out of touch and misinformed has never stopped him getting coverage and thus, undeserved credibility.

Re: Did Anyone Notice that Take-Two...

patcher is an ignoramius douche.  I've never posted on this board before, but i read alot of the stuff here.  Patcher claimed less than a month before EA's offer that there was zero chance that EA would make an offer for TTWO.  In fact, he only recently upgraded his price recommendation for ttwo from $9 bucks a share to something like $25.

 

This stock and company have a new found discipline and value.  Most analysts get it right 50% of the time. Patcher has repeatedly been dead wrong about the industry, especially when Take Two is involved. Dennis, please interview some of the long term shareholders that float about ttwo's message board on yahoo finance.  you'll find better analysis there than with Patcher.  Best example right now would be the fact that Patcher claimed initially that maybe 6 million copies of GTA IV would sell for the financial year (ends october). 

Currently GTA IV has sold 9 MILLION copies.  But apparently those prices were "baked into" EA's offer price, even though patcher missed the mark by millions of copies.  I could find more examples, but I can't really be bothered.  please stop using this guy as any kind of analyst.  His remarks just smack of a "can't admit I was wrong" attitude at best and possibly at worst "I'm a paid mouth piece of shorters or EA and am trying desparately to keep the share price down."

Re: Did Anyone Notice that Take-Two...

I don't know alot about stocks, but wouldn't EA be securing shares through options rather than outright purchases, at least until they were in a position to gain a controlling share?

Re: Did Anyone Notice that Take-Two...

Makes perfect sense to me. If no deal happens, which is still a possibility, the price will plummet, so the share price factors in that possibility.

Re: Did Anyone Notice that Take-Two...

Dennis, I defy you watch CNBC for any extended length of time a tell me anything day-to-day investors do makes sense.

---------------------------------

So speak I, some random guy.

 
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MaskedPixelantehttp://i5.minus.com/iN5o9iu1ON2NG.jpg "It cursed my gear? WHY WOULD IT DO THAT?! THIS GAME IS BUGGED!"04/24/2014 - 9:51pm
Matthew Wilsonthe lose of nn would not be good for us, but it will not be good for verizion/comcast/att in the long run ether.04/24/2014 - 2:16pm
Matthew Wilsonsadly yes. it would take another sopa day to achieve it.04/24/2014 - 2:13pm
NeenekoI am also confused. Are you saying NN would only become law if Google/Netflix pushed the issue (against their own interests)?04/24/2014 - 2:10pm
E. Zachary KnightMatthew, you are saying a lot of things but I am still unclear on your point. Are you saying that the loss of Net Neutrality will be good in the long run?04/24/2014 - 2:06pm
Matthew WilsonOfcourse it does I never said it did not.though over time the death of NN will make backbone providers like Google, level3 and others stronger becouse most isps including the big ones can not provid internet without them. they can peer with smaller isps04/24/2014 - 1:54pm
E. Zachary KnightMatthew, and that still plays in Google's favor over their smaller rivals who don't have the muscle to stand up to ISPs.04/24/2014 - 1:45pm
Matthew Wilsongoogle wont pay becouse they control a large part of the backbone that all isps depend on. if verizon blocks their data, google does the same. the effect is Verizon loses access to 40% of the internet, and can not serve some areas at all.04/24/2014 - 1:14pm
Neenekolack of NN is in google and netflix interest. It is another tool for squeezing out smaller companies since they can afford to 'play'04/24/2014 - 12:57pm
Matthew WilsonI have said it before net nutrality will not be made in to law until Google or Netflix is blocked, or they do what they did for sopa and pull their sites down in protest.04/23/2014 - 8:02pm
Andrew EisenGee, I guess putting a former cable industry lobbyist as the Chairman of the FCC wasn't that great of an idea. http://www.nytimes.com/2014/04/24/technology/fcc-new-net-neutrality-rules.html?_r=204/23/2014 - 7:26pm
Andrew EisenIanC - I assume what he's getting at is the fact that once PS3/360 development ceases, there will be no more "For Everything But Wii U" games.04/23/2014 - 5:49pm
Andrew EisenMatthew - Yes, obviously developers will eventually move on from the PS3 and 360 but the phrase will continue to mean exactly what it means.04/23/2014 - 5:45pm
IanCAnd how does that equal his annoying phrase being meaningless?04/23/2014 - 5:09pm
Matthew Wilson@Andrew Eisen the phrase everything but wiiu will be meaningless afer this year becouse devs will drop 360/ps3 support.04/23/2014 - 4:43pm
Andrew EisenFor Everything But... 360? Huh, not many games can claim that title. Only three others that I know of.04/23/2014 - 3:45pm
MaskedPixelantehttp://www.joystiq.com/2014/04/23/another-world-rated-for-current-consoles-handhelds-in-germany/ Another World fulfills legal obligations of being on every gaming system under the sun.04/23/2014 - 12:34pm
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Andrew EisenI love RPGs but I didn't much care for Tales of Symphonia. I didn't bother with its sequel.04/23/2014 - 11:21am
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