[FONT=Arial, Helvetica, sans-serif][SIZE=-1]IGN: EA Turning Hostile
[/SIZE][/FONT] EA Turning Hostile
Take-Two bid taking shape.
by Martin Robinson, IGN UK
UK, March 13, 2008 - EA's lust for Take-Two is reaching feverish proportions, its advances on the GTA publisher turning increasingly aggressive as it launches an offer for all outstanding shares in the company.
After Take-Two rejected EA's bid last month, EA has confirmed it's to offer shareholders $26. The overall offer is valued at $2 billion and comes on the back of Take-Two's quarterly forecast which exceeded expectations due to high demand for incoming Grand Theft Auto IV. EA's offer expires on April 11, a day after Take-Two's annual meeting.
"This is a great opportunity for Take-Two shareholders," said EA's CEO John Riccitiello, "We believe Take-Two investors will see our tender offer as the best way to maximize the value of their investment in Take-Two. This tender offer provides a clear process to complete the proposed transaction. For EA shareholders, the combination would add additional intellectual properties to our already strong portfolio and welcome Take-Two's talented creative teams to the great development organization we've built at EA".
[/SIZE][/FONT] EA Turning Hostile
Take-Two bid taking shape.
by Martin Robinson, IGN UK
UK, March 13, 2008 - EA's lust for Take-Two is reaching feverish proportions, its advances on the GTA publisher turning increasingly aggressive as it launches an offer for all outstanding shares in the company.
After Take-Two rejected EA's bid last month, EA has confirmed it's to offer shareholders $26. The overall offer is valued at $2 billion and comes on the back of Take-Two's quarterly forecast which exceeded expectations due to high demand for incoming Grand Theft Auto IV. EA's offer expires on April 11, a day after Take-Two's annual meeting.
"This is a great opportunity for Take-Two shareholders," said EA's CEO John Riccitiello, "We believe Take-Two investors will see our tender offer as the best way to maximize the value of their investment in Take-Two. This tender offer provides a clear process to complete the proposed transaction. For EA shareholders, the combination would add additional intellectual properties to our already strong portfolio and welcome Take-Two's talented creative teams to the great development organization we've built at EA".
