BREAKING: It's Over... EA Gives Up on Take-Two Acquisition
BREAKING: It's Over... EA Gives Up on Take-Two Acquisition
September 14, 2008
It's official - Grand Theft Auto V will not be released under the Electronic Arts brand.
EA has just issued a press release announcing that it has decided not to continue its lengthy pursuit of Take-Two Interactive.
The two sides have been talking, but those negotiations appear to have broken down. At this point it's unclear what made EA decide to give up its nearly seven-month long bid to acquire T2. From the EA release:
Electronic Arts... today announced that while EA continues to have a high regard for Take-Two's creative teams and products, after careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two... EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two.
EA CEO John Riccitiello (right) commented:
EA is tracking toward a record breaking year. We're launching 15 new games including award-winners like SPORE, Dead Space and Mirror's Edge, great new titles from the Sims, new family titles with Hasbro, and the highest quality slate of EA SPORTS titles on this generation of consoles. We're also expanding beyond our core business with a series of direct-to-consumer launches including Warhammer Online.
UPDATE: Take-Two has issued a press release of its own, with chairman Strauss Zelnick (left) saying:
We remain focused on creating value for our stockholders and our consumers. This has been our goal since EA launched its conditional and unsolicited bid six months ago, a bid which was repeatedly rejected by our stockholders. As part of that commitment, we remain actively engaged in discussions with other parties in the context of our formal process to consider strategic alternatives. We're especially proud of the success we've enjoyed over the past eighteen months and we remain confident in our ability to generate value for stockholders.
GP: Expect T2 stock to take a big hit when the markets open in the morning. TTWO closed at 21.65 on Friday amid expectations that an EA-T2 deal would get done somewhere north of the 25.74 tender price that EA offered earlier. Prior to EA's expression of interest, T2 had been trading in the 17 range. With EA now out of the picture, T2 shares will likely be heading south.
Comments
Huzzah! Huzzah!
They'll be back. Just wait.
Terrible news.
Hmmmmm interesting. Don't know if this is good or bad... but I was expecting for the acquisition to actually go through. It just shows sometimes the unexpected did happen :P
Interesting indeed. I guess EA finally was able to comprehend that T2 just wasn't willing to be bought out for the price that EA was offering. Apparently EA wasn't willing or able to go much higher either. The fun part comes in the next few months while we see if EA's going to take another stab at a lower price. That might not be very successful either, given that this one failed. It says a lot about investors skeptism of EAs ability to handle the company well.
-Gray17
I applied for a job at EA today, so in the interests of my career aspirations, I won't give an opinion that may be found and used against me.
>.>
GP is on EA's ''black list'' anyway, so ust coming here probably hosed you. Expect a knock on the door in the middle of the night.
Gestapo tactics aren't scary any more, just sad.
I applied there once too, then a friend worked there, then i learned of the evil inside, then i made my own game company.
Yay?
This feels like good news, but EA might take another jab at T2 in the future.
after all the DRM crap Ea are unfairly using atm im VERY glad.
Finally. I thought EA was going to kill yet another good company's creative spirit.
Don't breath easy just yet. I can almost bet you that EA will soon be after Natural Motion. I believe they want to get their hands on that Euphoria engine. I hope T2 gets there first since they've already used it (GTA IV). I'd like to see T2 use it in their sports games.
OH GOD NO!
If EA gets their money grubbing hands on Natural Motion then you can bet that it will become exclusive to EA then other companies would be unable to improve their products with Euphoria.
United we Stand, Divided we fall.
Good! I'd hate to be able to install GTA 4 on my computer only 3 times.
Bioshock has a limitation on it, what makes you think GTA4 won't?
岩「…Ace beats Jack」
Actually they bumped it up to unlimited installs now.
http://www.destructoid.com/blogs/Aurvantoid/2k-games-gets-a-clue-removes...
But still the process is annoying and again only annoys the consumer and the pirate could care less as he isn't bugged by it.
Awesome! I remember them bunping the limit up to 5 but this is news to me.
岩「…Ace beats Jack」
Cue Jack Thompson Rant in 3... 2... 1... Now.
And now for something completely different.
To quote Cell just before he got Falcon Punched... "OH, SHIT!!!"
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I AM DOOMED TO HAUNT JACK THOMPSON'S DREAMS UNTIL HIS CRUSADE AGAINST VIDEO GAMES ENDS.
Dude. You were only off by, like, ten minutes. STOP SUMMONING HIM.
Actually, Dave, I was second-guessing his rant.
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I AM DOOMED TO HAUNT JACK THOMPSON'S DREAMS UNTIL HIS CRUSADE AGAINST VIDEO GAMES ENDS.
Do you get off on Pretending to summon JT? I mean it's getting old.
personally, i'm fascinated by JT's stupidity, everyone else hates him, i mean he's going to be an old joke soon after he gets the big D-I-S-B-A-R-R-E-M-E-N-T... and on another note, i feel bad for JT's kid, the ridcule he must under go...
Jesus Jack Jones Thompson told me to do it!
HUZZAH! *Throws hat in the air.*
I told you so! Gee, I love being right all the time.
Jack Thompson, aka Nostradamus
Faker.
Agreed. He's fake.
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I AM DOOMED TO HAUNT JACK THOMPSON'S DREAMS UNTIL HIS CRUSADE AGAINST VIDEO GAMES ENDS.
actually you didn't, bbbbb. You hoped EA would buy T2.
岩「…Ace beats Jack」
If I wasn't so lazy I might have done a Jig.
This is a crushing repudiation of Strauss Zelnick and his alleged "marketing genius" that has not quite worked out at Take-Two. Gee, what a shame. The guy is a jerk, a pornographer, and now a loser. Jack Thompson
Urm... could you possibly consider that Zelnick never WANTED to get bought out in the first place? They're making plenty of money as it is making games i personally don't care for so much anyway.
Where are you quoting these things like 'marketing genius?' You're the only one really known for being a jerk here. (If you ARE the real Jack that is.)
Your optimism is astounding, even if it is completely misguided.
Ever consider Mr Zelnick didn't want to buy out and knows EA's track record well enough?
Even so, if it did happen all that would occur is you would start harassing EA.
Take Two isn't going anywhere, deal with it.
"The guy is a jerk, a pornographer, and now a loser."
It's good to know you didn't consider an alledged "pornographer" a loser until this.
If that isn't the pot calling the kettle black, I don't know what is...
And I'd make a comment about his own porn filing, but I don't wanna risk getting my comment flagged :P
-- "Jack and listen are two words that don't go together...just like Jack and sanity, Jack and truth, Jack and proof, Jack and win..." -- sortableturnip | http://www.orangeloungeradio.com/
at least he gets to keep his job now, unlike you, qq
岩「…Ace beats Jack」
"The guy is a jerk, a pornographer, and now a loser."
That describes you to a T, Jack. Except for the word "now", that is.
"There is no sin except stupidity." - Oscar Wilde
JT, you realise Strauss Zelnick still has a job (and will for a very long time now that the EA/TTWO deal fell through) yet in a few days, you'll be losing yours, who's the real loser here?
Thank god...
-Remember kids, personal responsibility is for losers! For information on games and psychology, look up: Jonathan Freedman(2002)Block & Crain(2007) Just to name a few...
On another note....
YESYESYESYESYESYES!!!!!!!!!!
This is a victory not only for Take Two ,but for all of their customers and eomployees as well. EA would have doen nothing but bring them down.
Yes !!! Thank you :)
I had hoped this would be the outcome; I wouldn't have wanted Take Two to be swallowed by EA, the giant steamrolling machine that it is. Bad for business, bad for gamers everywhere.
On a related note I do believe there is something totally wrong with the market when a rumour of a merger would drive stock up and when the merger don't happen would drive it down again.
Yes! EA is going to keep their hands off of Midnight Club! Wooo!
yessssssssssssssssssssssssssssssssssss!
Well, lets just see who else tries to buy/merge TT. Activision has been on a feeding frenzy as well.
As for our buddy JT- it's quite amusing for someone losing his job because he is an asshole to call anyone a "loser". Mr. Zelenik still has his job.
At least Activision don't make a name for themselves by ruining good game companies (AND GOOD GAMES) with bad corporate policies.
Ubisoft better watch out.
The Industry is saved!!!
Cue the music
http://www.youtube.com/watch?v=a7DCeQHyWFw
But i never lost my morality and determination did we? Mr.Zerodash, the florida bar just lost a moral real american hero,And it's not like a monster and pervert like Mr.Zelnick to get all so happy about the victory/loss,If only he was on the sex offender registery. Jack Thompson.
You say that as if you ever had any morality to lose.
Also, MR Zelnick has never tried to benefit from other's misfortune.
in his defense (sadly), you can't lose what you never had
岩「…Ace beats Jack」
Could you be less coherent there?
How's that little thing with the bar coming?
Also, the REAL American heroes are half ap lanet away fighting to protect our freedoms, freedoms that suit wearing jerks like you are working ot have removed.
What morality? You, who pull out all the stops to smear and discredit those who disagree with you? You, who tried to work both sides of the fence in the Devin Moore case to push your agenda? You, who abandoned your politician buddies when YOUR idiotic bills failed to pass constitutional muster? You don't know the meaning of the word, Jack.
And who exactly are you a hero to? Those imbeciles who gave you that award in Utah? What a joke. Hell, 'ol Stinger doesn't even want to admit who his dad is, and you don't seem to care. Some "hero".
By the way, the rest of your post made about as much sense as your defensive strategy against the Florida Bar, but then again you've repeatedly shown the inability to think and type simultaneously, so I guess I shouldn't be shocked.
"There is no sin except stupidity." - Oscar Wilde
"real american hero"? LOLOLOLOLOLOLOLOL
Let's compare you to a couple REAL american heroes shall we?
Martin Luther King Jr: Fought and won civil rights and equality for african americans and was assassinated for it
Thomas Jefferson: Helped write the declaration of independence and the constitution, providing the basis of today's American Society
Audie Leon Murphy: Most decorated soldier of WWII, performed several heroic deeds including but not limited to: Single-handedly defending an encampment with a mounted 50 cal. machine gun, singlehandedly wiping out a machine gun nest, the list goes on
now, we add you to the equation Mr. Thompson...
John Bruce Thompson: Lawyer who uses unlawful tactics to attempt to censor media, in flagrant disregard for the first amendment, and is now about to lose his job for it
DOES NOT COMPUTE!! SQUAWWWK
However Jackie Boy I can read the hidden message in this and it looks like you HAVE been disbarred... how does it feel to be kicked off your high horse?
When Life gives you lemons, you find a new god.
"real American hero"? LOLOLOLOLOLOLOLOL
Let's compare you to a couple REAL American heroes shall we?
Martin Luther King Jr: Fought and won civil rights and equality for African Americans and was assassinated for it
Thomas Jefferson: Helped write the declaration of independence and the constitution, providing the basis of today's American Society
Audie Leon Murphy: Most decorated soldier of WWII, performed several heroic deeds including but not limited to: Single-handedly defending an encampment with a mounted 50 cal. machine gun, singlehandedly wiping out a machine gun nest, the list goes on
Now, we add you to the equation Mr. Thompson...
John Bruce Thompson: Lawyer who uses unlawful tactics to attempt to censor media, in flagrant disregard for the first amendment, and is now about to lose his job for it
DOES NOT COMPUTE!! SQUAWWWK
apologies for the double post, any chance of getting one of em deleted?
the florida bar just lost a moral real american hero
Really? Who else are they getting rid of?
Jack first of all...learn grammar. I think majority of it can be relearned if you take Grade 1-5 again. Now as for Strauss Zelnick being on a sex offender registry, well I am drawing a blank there. Last I recall he has committed no sex crimes. Oh you mean releaseing GTA series. So non-graphic implied sex scenes bothers you? (Personally then don't recommend watching a lot of T.V and Movies.) Violence against people and even law-enforcers? (Once again, I don't recommend TV or movies.)
Now Jack, making inflammatory comments like that...didn't that get you into a lot of trouble? Jack, I recommend learning to being (I know this is a reach, but bare with me) a good Christian. I know this is a foreign concept however an old saying goes; "You'll attract more flies with honey than vinegar." Jack, you are not a hero...you barely qualify as rock moss. Now that you are losing your license, practice being a good human being and a good father. It will do you good, and might even redeem some of the poor opinions people have on you.
Sprouting lies and hateful commends burned you once, and they'll continue. I know you'll end up ignoring this like all other good advice others have tried to give you. However Jack, you did lose your morality while your determination (I call zealotry and blind ambition) sunk your ship even more so. I pity you. I truly pity you.
YES! YES! YES! YES! YES! YES!
Nice false comeback kurisu, please turn your caps lock off when you type real, you dolt,And yes heroes never die the only thing im taking away from real aemrica is death,crime and senseless destruction caused by the personal minions of the video game industry,That would be EA,Rockstar and Take-two.
The NSA called, They said Kurisu will be arrested tommarrow.
Then maybe you can explain why the trailer part I like in had NEVER had a single murder.
Also, my caps lock is almosy always off. It's called emphasis. Pick up a dictionary once in a while. Or maybe, you know, read at all, as I have seeen plenty of instance when all caps were used to signify emphasis on a word.
The NSA called, They said Kurisu will be arrested tommarrow.
Mmnyeah, bullcrap. Check your spelling before posting.
I'm pretty sure that if you want to pretend to be Jack you should learn to spell and learn that capitalizing every letter after a comma is incorrect.
I'll always be a real american, And please Fix your caps lock you dolts, And the crusade for good will never die when you have the video game's big business industry minoins, like EA,Take-two,Rockstar and last but not least, The pervert known as Mr.Zelnick.
Again...bullcrap.
I dont see whats the use of typing witty comebacks and truthful defenses against a troll and "douchebag" like jack thompson,It's not like he pays attention to the ownage you guys gives him, He just logs off then goes to masturbate,I assume.
This is some of the best news I've heard all-day. EA has failed to assimilate another company :D .
This is good news. Competition in the gaming marketplace is very good.
And that means crimes and murder rates will be increasing tenfold thanks to both EA,And take-two, I hope a pervert,Porn salesman,criminal and jerk like Mr.Zelnick is happy for what he's done.
Jack Thompson
And yet we never had the school shooting outbreak you promised upon the release of Bully.
Stanford says otherwise. A lower per capita crime rate and historically high availability of pornography in many developed European countries (e.g. Netherlands, Sweden) has led researchers to conclude that there is an inverse relationship between the two, such that an increased availability of pornography in a society equates to a decrease in sexual crime.
Looks like Zelnick will be lowering crimes.
岩「…Ace beats Jack」
And gas prices will drop 3 dollars thanks to hurricane Ike.
See? I can make crap up too.
Quite on the Contray Kurisu,We recenlty had a school stabbing one month ago,And i believe bully is to blame, And the NIU shootings was caused by prepatrators like Rockstar and the remaining industry itself, along with Valve and Counterstrike. Jack Thompson, American Hero
Ok then, link us to the news article.
Details Thompson
ANd again, our REAL American heroes are half a planet away fighting and dying to protect our freedsom while YOU work to overturn their efforts as well as pissing on the graves of those who have lost their lives already.
that's because we didn't have a school stabbing a month ago.
岩「…Ace beats Jack」
I figured.
I figured he wasn't replyign becuase he has no proof or he's busy writing an article himself.
Don't you dare insult Valve.
Which school shooting are you talking about?
He insults the dead all the time.
yeah he does.
JT reminds me of Gollum without the self-pity.
on the contrary zzzzzzzzz, Steven Kazmierczak wasn't employed by Rockstar nor Valve
岩「…Ace beats Jack」
Dude, fuck off. Too many arguements have been wasted on you, so let's just leave it at that.
-Remember kids, personal responsibility is for losers! For information on games and psychology, look up: Jonathan Freedman(2002)Block & Crain(2007) Just to name a few...
I'm Sorry Jack Thompson but your attorneyship is in another castle.
When Life gives you lemons, you find a new god.
Wow, Mr. Thompson. One attack. In over TWO YEARS.
You promised an 'epidemic.' One attack in that span of time an epidemic does not make. It makes a single crazy kid who was pushed too far.
David "DavCube" Gagnon, Sane Human Being, and You're Not
Details, whacko. You are aware that you can't even get a knofe in Bully, right?
But then, your creer has never been founded on the truth, has it
Yes great news no EA T2 deal and Jackies disbarrment, i'm opening up the vodka who's with me!
Gin and tonic for me! thank god!
Jesus Jack Jones Thompson told me to do it!
Yes Jacky,Enlighten us on your proof of the shooters motives for NIU, Were waiting...
I dont need proof when its all right here in GP,And i wonder why?, quite the opposite, Im avenging those that died from wasteful killing machines called video games, You pseudo-intellect GP users are very crude and lacking in comebacks and a waste of tax dollars,Tell your site admin if he's reading this, he might just as well support the side of perverts like zelnick and murdering Nazi's like GP and Rockstar entertainment.
"Avenging"?
By....what....making money from their grieving parents? Jack, you're a broken record and you should be far more worried about how you intend to sustain that cosy little fundamentalist Christian lifestyle when the Bar tears up your license and no reputable media will invite you to spew your nonsense anymore.
We lack in comebacks and happen to be crude? Now now Jack, this would be a 'pot calling the kettle black' case once more. You do have a lot of those. Now Jack, once again...time to re-learn your grammar back in grade school. You are avenging no one. You are not acting as a faithful christian. You acted as a spoiled brat, who wanted a big fight and started many. Guess what happened? You got burnt in the end. Learn your lesson, Jack...it might do you some good.
Calling people Nazi's and perverts usually just get you into more trouble than you already are.
hey look, don't play into this guy's bullshit, just ignore him, he'll go away and fap off to porn after a while ;)
Jesus Jack Jones Thompson told me to do it!
WE'RE a waste of tax dollars?
According to that guy who drafted that one Louisiana video game bill and kept saying it was constitutional?
So who's the waste of tax dollars NOW?
Avengin? As in vengance JT? As in "Vengence is Mine, thus sayeth the Lord." Isn't that a tad bit presumptuous of you to be speaking for God like that?
why is everyone crying in joy?
EA still bought like 20% of TT shares during the process, and has apparently only walked away from formal merger talks. Their march in the other direction will make TT's stock price fall, which could enable EA to buy them up cheaper than if TT had accepted the deal months ago.
This is still possible.
Won't make a difference if the shareholders aren't willing to sell.
Sounds like EA to me.
Party's over people, everyone go home.
This zzzzzz guy is obviously at troll, just ignore him and he'll go away. The big JT stopped posting here months ago, although it's not like he really had a life to get back to.
Getting back on topic, WHOOOOOOOOOOOOOO!
nope, it's the real deal, dennis confirmed it a couple weeks ago when JT emailed him the same thing he posted under the same name (which was a string of random letter similar to this guy)
That doesn't stop any other random troll from doing the same. You will notice that he cannot spell and he capitalises every word entered after a comma. Jack has NEVER done this and whilst people like to raise him to rank of idiot, his multiple court filings show that he is mostly competent when it comes to grammar and spelling.
Personally I think this is an OBVIOUS fake.
And I bought Bully earlier today, before I found out about this. ^_^
If Take-Two's stock takes some damage, I wouldn't worry -- I'm sure they'll recover from it.
And some things to Jack Thompson:
1) You believe Bully caused a school stabbing? Okay, I've seen quite a few weapons in Bully already, but blades aren't one of them. STOP MAKING YOUR NONSENSE UP.
2) You misspelled "zero".
YES!!!!!
That's a fake JT, people. And if I have to make the change to require all commenters to register, you can thank people who do stuff like that.
Just do it Dennis, anonymous posting was the worst thing ever to happen here.
Well, that'll end my posting days, as I can't register, as when I try, ti says I did already, and it won't send me my info, especially since I changed my email.
well, here's a suggestion to your problem, just register using gmail, using a similar name, they game me my info straight up... i hope this helps
Jesus Jack Jones Thompson told me to do it!
I really wish you would. The annonymous posting has been a real pain in the ass.
Just think of all the /b/tards that'd have to go somewhere else to troll. *sigh* that'd be a glorious day, indeed.
-- "Jack and listen are two words that don't go together...just like Jack and sanity, Jack and truth, Jack and proof, Jack and win..." -- sortableturnip | http://www.orangeloungeradio.com/
Odd, looks like the site ate my comment.
Anyway, I hope you do require registration for commenting. The annonymous posting has been nothing more than a pain in the ass.