Rumor: EA Walking Away from Take-Two Negotiations

September 4, 2008 -

Following a volatile Wednesday for Take-Two stock, investment site Seeking Alpha mentions that a rumor floating around Wall Street had EA walking out on its secret merger negotiations with T2:

Yesterday's session featured some strange exchanging of Take-Two Interactive Software Inc. (TTWO) shares, just one day before the company is set to release earnings.

 

There was no news released, though Barron's later said that the price decline was due to rumors about Electronic Arts Inc. (ERTS) walking away from merger talks.  ERTS had an executive speak at a conference right around noon.

T2 opened yesterday at 24.51 but dropped as low as 21.34 on the rumor. (note the big dip in the TTWO share price chart for Wednesday afternoon). 

While Seeking Alpha ultimately discounts the rumor, it's known that EA management is not especially fond of the Strauss Zelnick team at T2. That has a lot to do with the rich deal Zelnick put in place for himself and his crew in the event of an acquisition. Given that atmosphere, hardball tactics (such as a walkout) would seem to be in the realm of possibility.

 


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Re: Rumor: EA Walking Away from Take-Two Negotiations

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Re: Rumor: EA Walking Away from Take-Two Negotiations

With this rumour, the stocks are dropping, and EA might get T2 much easier.
 

Re: Rumor: EA Walking Away from Take-Two Negotiations

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Re: Rumor: EA Walking Away from Take-Two Negotiations

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Re: Rumor: EA Walking Away from Take-Two Negotiations

what keeps EA from continuing to buy shares on the open market? They've been doing so since they started the takeover bid, and TT admitted months ago that EA had bought something like 20% of all shares already.

Re: Rumor: EA Walking Away from Take-Two Negotiations

Considering how EA ran Need for Speed into the ground, they can keep their hands off of Midnight Club. Great news.

Re: Rumor: EA Walking Away from Take-Two Negotiations

It's interesting to me how so many people here spend time wondering which Jack posts are fake and which are real.  I've always operated under the assumption that if it's fake, either Dennis or EZK will immediately delete it, unless it's an obvious mock post of the kind we've seen from Jack Thompson Follower/Goon, etc.  If it stands, it's the real (stupid) article, discernible by the IP, I'd assume.

And, if he uses a proxy, it's usually apparent from the ///'s that appear in his post.

The funny thing is that a lot of times the mock posts make better arguments than King Idiot himself.

"There is no sin except stupidity." - Oscar Wilde

"De minimus non curat lex"

Re: Rumor: EA Walking Away from Take-Two Negotiations

Remember boys and girls this is the same market that predicted the deal would go through by now.

---------------------------------------------------- Debates are like merry go rounds. Two people take their positions then they go through the same points over and over and over again. Then when it's over they have the same positions they started in.

Re: Rumor: EA Walking Away from Take-Two Negotiations

I'm grateful that T2 isn't going to be absorbed into the EA Machine. That said...

Hey Jack, why exactly did EA leave an offer to T2 for months on end if their stock was so bad? Your reason if nothing else will be good for a laugh.

Re: Rumor: EA Walking Away from Take-Two Negotiations

If that is jackie above (doubtful) then there is a problem.  He swore to see to the downfall of T2 and especially Strauss Zelnick (the fool went as far as sending Zelnick's Mother an harrashing mail).  Now he turns around and claims that he foresaw that EA would not take over and does not seem to have a problem with it, which leaves T2 to make more GTA's which are apparently the bane of jackies existance.   Um jackie toss me a clue here, pick one direction and stick to it.

Oh and btw.  EA go away. 

 

Re: Rumor: EA Walking Away from Take-Two Negotiations

If it went through EA had better be preparied to set aside a sizable amount of money to replace fax machines and a web server to hold all the emails they'll get.

And I know with all the legel/death threats they'll get from a certain someone they'll either cave and cancle or neuter GTA.

I'm leaning on them caving and axing it for good.

Re: Rumor: EA Walking Away from Take-Two Negotiations

PLEASE JESUS, LET EA NOT WIN!!! IT WOULD EMASCULATE GTA IF EA TOOK OVER OR EVEN MERGED!! for god sakes i eat cheeseburgers (wendy's triple deckers) not FRIGGIN SALADS!!!

Jesus Jack Jones Thompson told me to do it!

Jesus Jack Jones Thompson loves you, so kill for his amusement so we can get money for the new "People's Temple of Jesus Jack Jones Thompson"

Re: Rumor: EA Walking Away from Take-Two Negotiations

I'll be thankfull to the gods of gaming (or coinsidence) when and if this deal between EA and Take Two goes down the drain. I'm not that sure this deal is good for the gamers of the world.
 

As for Zelnick making a lot of money if Take Two is sold to EA, let me remind you that a certain CEO of EA made a lot of money personally when EA bought Elevation Partners who owned Bioware and Pandemic - a company the same CEO co-founded...

 

 

Re: Rumor: EA Walking Away from Take-Two Negotiations

Yay \o/

EA should just keep walking.

-- mostly harmless

mostly harmless

Re: Rumor: EA Walking Away from Take-Two Negotiations

Got a suggestion, replace that picture with the epic Pacman/EA eating a Dot/Take 2.

Re: Rumor: EA Walking Away from Take-Two Negotiations

T2 would have smart to take EA's original deal. Now I bet they are kicking themselves.

Re: Rumor: EA Walking Away from Take-Two Negotiations

I doubt they're kicking themselves given that they didn't want to be bought out/taken over in the first place. They were willing to negotiate when EA made the offer, but EA didn't want to negotiate. This is just EA throwing a tempertantrum now that they actually have to negotiate.

-Gray17

-Gray17

Re: Rumor: EA Walking Away from Take-Two Negotiations

What are the developments Jack??? 

Re: Rumor: EA Walking Away from Take-Two Negotiations

By the way, big developments in Jack Thompson's alleged disbarment problems.  Hooah!!!!!!!!!!!!!!!

Attorney Jack Thompson, Latter Day Nostradamus

 

Re: Rumor: EA Walking Away from Take-Two Negotiations

"Big developments", eh JT?

Isnt that what you said during the T2 case, and right after the VT shootings, and during that janet reno case a long time ago, and during your trial, and during your disciplinary hearing, and....

Re: Rumor: EA Walking Away from Take-Two Negotiations

You're screwed in two weeks, WE KNOW.

Re: Rumor: EA Walking Away from Take-Two Negotiations

Jackspeak Translation:  I just submitted a 50-page court document, and it has pictures.

Re: Rumor: EA Walking Away from Take-Two Negotiations

gosh...never heard you say that before

Re: Rumor: EA Walking Away from Take-Two Negotiations

Of course EA is walking away.  I said at this site six months ago that T2 stock was overvalued, and I was obviously right.  Gee, somebody want to ask me if it gets old being right all the time?  Answer:  No.  Hooah!

Jack Thompson, Attorney and You're Not 

Re: Rumor: EA Walking Away from Take-Two Negotiations

sir, can you please link to said statement?

and can you please not put Hooah at the end of everything you say?

Re: Rumor: EA Walking Away from Take-Two Negotiations

Shouldn't that read,

"Jack Thompson, You're not an attorney?"

Re: Rumor: EA Walking Away from Take-Two Negotiations

Wow.  Amazing.  You predicted a stock going down during the largest economic downturn since the Great Depression.  That must have been incredibly difficult.

 

But hey, I'm being negative.  Congrats!  Maybe you found something you're good at, since lawyering certainly ain't it.  Does it get old being a hypocrite and socially irrelevant?

Re: Rumor: EA Walking Away from Take-Two Negotiations

This coming from the worm that sold his share for 1 dollar as soon as they asked.

When Life gives you lemons, you find a new god.

When Life gives you lemons, you find a new god.

Re: Rumor: EA Walking Away from Take-Two Negotiations

That's funny. You said you had a client that would secure the takeover. What happened with that?

Oh, that's right. You lied, just as you usually do so impulsively (hell, it's obsessive by now.) And you're lying again just to prove to yourself some sort of self-importance.

David "DavCube" Gagnon, Mature Human Being (not a compulsive lier), and You're Not.

Re: Rumor: EA Walking Away from Take-Two Negotiations

Whether you're real or not, they aren't walking away because the stock's overvalued. They're walking away because they don't like a hard bargin and are hoping to force a softer one. Unfortunately for EA, Take Two isn't interested in losing it's autonomy, so that raises the price they're willing to sell for up, and driving a hard bargin.

Ultimately, Take Two doesn't need EA to buy them out. They were doing ok on their own, and can do so again.

-Gray17

-Gray17

Re: Rumor: EA Walking Away from Take-Two Negotiations

Ignore him, he's moved to financial la-la land apparently, all those shareholders and finance experts that invested in TTwo quite obviously refused to sell because EA were offering too much for the shares ;)

Re: Rumor: EA Walking Away from Take-Two Negotiations

Yea walk away EA. All you do is ruin everything you touch.

Re: Rumor: EA Walking Away from Take-Two Negotiations

I love TTwo, haha.  They are wasting so much EA money right now with them trying to take over TTwo...  I would have to say that since EA put up with all of the BS, that TTwo has the upper hand in these negotiations, and might as well rape and pillage EA as much as possible during an acquisition.  The TTwo guys have nothing to lose, because they are most likely going to lose their jobs anyways. 

Stock holders are going to get the same thing in the end either way if EA takes over.  So there really isn't a huge worry for them either.

It really isn't a good investment for the dollar for EA in the end, and a couple financial people I hang out with are saying this is no where near worth the money, but who knows what EA is planning on doing or know.  (Take advantage of the monopoly and jack up the prices on the sports games?  I wouldn't doubt it, or start selling demos of the sports games.)

Re: Rumor: EA Walking Away from Take-Two Negotiations

The TTwo guys have nothing to lose, because they are most likely going to lose their jobs anyways.

That's pretty much the assumption behind the "in the event of an acquisition" thing for management that the shareholders agreed to back at the shareholder meeting. EA buys TT, and Zelnick and his team will likely be partly or entirely replaced in short order, simply because EA doesn't like them (they stood up to EA). Particularly in the event of a hostile takeover like EA was trying for, before they decided to actually negotiate.

-Gray17

-Gray17

Re: Rumor: EA Walking Away from Take-Two Negotiations

There is always the possibility of sending them to a go nowhere job in a studio with a contact that says they have to stay there for 5 years...  haha (ok, stole that from Batman Begins...)

Re: Rumor: EA Walking Away from Take-Two Negotiations

With this rumour, the stocks are dropping, and EA might get T2 much easier.

Re: Rumor: EA Walking Away from Take-Two Negotiations

NNoooo EA has to buy them and everyone out so they can fail and the industry can be revitalized!!!

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Re: Rumor: EA Walking Away from Take-Two Negotiations

Sorry, but does anyone else find it amusing that a walkout on talks is considered a "hardball tactic" in this case?

Considering that EA made fools of themselves for months by holding and holding on an already rejected takeover offer, I find it kinda hard to see anything they do at this point as tough negotiation.

Plus, I'm fairly sure that EA's dislike of Strauss Zelnick and his team have more to do with Zelnick looking to drive a hard bargin if EA wants to buy out T2. Companies generally aren't fond of people opposing them driving hard bargins.

-Gray17

-Gray17

Re: Rumor: EA Walking Away from Take-Two Negotiations

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Re: Rumor: EA Walking Away from Take-Two Negotiations

Shareholders prefer big stable entities to smaller, less stable ones, at least in the current financial climate.

That said, big stable entities create stagnation in the market and can have very bad long-term effects.

Personally, I think EA would do better with the competition like T2 and Activision around them, it gives them momentum. There's a slow admittance amongst gamers nowadays that, if it weren't for the DRM, Electronic Arts are starting to produce some very nice titles, part of that improvement is powered by competition, remove the competition and you remove the 'drive' to improve.

Re: Rumor: EA Walking Away from Take-Two Negotiations

They better walk away. The government may say "ok" but everyone knew this isn't in the consumer's best interest.

 
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