EA Launches 'Hostile' Bid for GTA Publisher

Games news sites are reporting that EA has issued a new offering to Take-Two's shareholders in an attempt to purchase the company outright. Last month EA offered some $2 billion to Take-Two in an effort to accomplish the same goal. Take-Two declined, and EA took their offer public. Now, Electronic Arts is offering the price of some $26 per share to Take-Two's holders, a generous valuation. "Within ten business days Take-Two is required by law to publish, send or give to shareholders (and file with the Securities and Exchange Commission), a statement as to whether it recommends acceptance or rejection of the latest offer ... Since EA launched its February bid Take-Two said that other parties had approached it regarding a merger, but that it hadn't entered into negotiations with other companies about a deal."

Comments

Re:If this goes through..

[aztektum]

Exactly. If I were an EA shareholder, I'd be pissed. As another poster pointed out, the amount EA is offering is really over stating what GTA specifically is worth. Don't piss away a crap ton for a short term boost. Although I guess that is the American way.

Remember when it use to be about family, apple pie, and fireworks and shit? Now it's all about the Benjamins.