Take 2 buyout?
EA has a bid for the majority of take 2's stock. if 2K is bought out, are we going to see all support for this game come to a halt? are we going to see the teams who are attempting to fix this going to be fired?
on the other hand, EA actually has some competent programmers, so the patches might actually progress past the " were are looking into the problem, please have patience with us" stage, if EA actually gives a **** about this game.
here is the story
Electronic Arts Inc., which has been spurned repeatedly by Take-Two Interactive Software Inc., said Monday it held weekend talks with the chairman of Take-Two and will also hear a presentation from "containing non-public information" about the company.
Redwood City-based EA's (NASDAQ: ERTS) tender for outstanding shares of Take-Two stock is set to expire Aug. 18.
EA's CEO, John Riccitiello, said in a letter to Take-Two Chairman Strauss Zelnick that "given the passage of time, we have to validate the assumptions used in the model to support our offer price of $25.74 per share in cash. In addition, we no longer believe we can integrate Take-Two ahead of the important holiday season. Accordingly, we require due diligence to support a transaction and are therefore letting the tender offer expire tonight. However, we are pleased to accept your offer to review your management presentation as outlined in your letter."
The letter added, "We continue to have great respect for Take-Two's creative teams and products and are hopeful that we can work together to reach a mutually agreed transaction."
In response, Zelnick said the company has "made significant strides since EA first expressed interest" and will present to EA "material non-public information to which you would not otherwise have access, including information relating to our three-year product release schedule and management's financial projections. The presentation also includes information about the underlying factors that have driven our strong operational and financial performance."
The possibility of a friendly merger comes six months after New York-based Take-Two (NASDAQ: TTWO), which makes the "Grand Theft Auto" game series, rejected an offer from EA for the company as too low.
Last edited by nike22; 08-19-2008 at 09:51 AM.
Not really a civilization topic, so I moved to Off Topic. As an employee of 2K I cannot comment on this story nor on any potential implications.
I hate EA so I will not buy 2k games if there is an ea buyout, if you want my rant on 2k just ak me. I just dont feel like expessing myself right now.
I can't say I will never buy a game from them however some of my most loved games were ruined after EA got ahold of them. (Westwood)
Originally Posted by 2b2gbi
The latest news from the Civ fanatics site, is that the take over deal is off, for now at least.
Of course doesn't EA Have System Shock from irrational games.. Thats a good game.