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EA Abandons Efforts To Take Over Take-Two

Posted by Soulskill on from the no-dice dept.

Erik J writes "Electronic Arts has abandoned plans to absorb Grand Theft Auto IV publisher Take-Two Interactive, the company announced earlier today. Following over half a year of hostile buyout offers by EA, the pair went into talks under a confidentiality agreement in late August. From the official announcement: 'EA continues to have a high regard for Take-Two's creative teams and products, [but] after careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software Inc., EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two.' The announcement caused Take-Two's stock to drop by 30%, and analysts expect a bidding war to ensue for employment of the GTA creators."

4 of 98 comments (clear)

  1. Meh. by morari · · Score: 3, Insightful

    Take Two hasn't done anything really worthy of praise in recent memory. People may think some of the products are groundbreaking or artistic, but its really just been squeals pop culture junk. They probably would have fit in perfectly at EA.

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    "He who can destroy a thing, controls a thing." --Paul Atreides, Dune
    1. Re:Meh. by Idiomatick · · Score: 3, Insightful

      EA could destroy GTA.

      coder: We are thinking of adding a mission where you have to beat up a hooker for a pimp. You know be the muscle.

      EA: lets send you to our committee

      com1: Sounds wicked, but do you have to beat her?

      com2: You know figures show that hookers offend some of our market, how would you feel about taking them out?

      com3: Do you really NEED to say pimp? Cant he just be a .... mechanic.... that needs his wrench.

      com4: Yeah the girl can be a valuable employee and she gives you the wrench, then you bring it to him.

      com: Thanks for this great idea put it in right away.

      Trust me, EA can take ANYTHING and make it crap.

  2. Geee Couldn't be a Credit Crunch Could it? by phantomcircuit · · Score: 3, Insightful

    Just maybe this story has something to do with the complete fallout of the credit market... just maybe

    JUST MAYBE?

  3. Re:How would you know? by unity100 · · Score: 2, Insightful

    come on. this is will wright. somebody else was gonna fund it, be it ea or another.

    spore idea was on his mind for a long time. but it didnt mature into fruition until lately.

    ea didnt take any chances with mass effect. it was funded by microsoft.

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