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I don't know about anyone else, but I've been following the Take Two takeover for a while now and it's as about as gripping as watching the latest episode of Lost. Who's gonna bite the biscuit? Will the takeover be successful? What is the black smoke monster? [hold on, that is Lost!?]. But after all this time, we're still non the wiser as to who will takeover or what will happen.
After doing my ten times daily rounds on the internet, I've had the chance to read a few interesting rebuttals and responses to the EA offer of $2 billlion for Take Two. Now when I heard about their new official offer the other day, I thought April Fools day had come early... Were EA trying to sneak Take Two under their umbrella before one of the biggest games ever was about to be released? The answer to that is a resounding YES and Take Two have echoed my thoughts with their rebuttal.
Take Two king pin, Strauss Zelnick, called the EA offer "opportunistic" and "inadequate" amongst other things. Take Two said that
"We believe EA's unsolicited offer is highly opportunistic and is attempting to take advantage of our upcoming release of Grand Theft Auto IV, one of the most valuable and durable franchises in the industry"
They further stated that...
"Electronic Arts' proposal provides insufficient value to our shareholders and comes at absolutely the wrong time given the crucial initiatives underway at the Company"
In other words... Nice one EA, pull the other leg. Suppose it was worth a try and although Take Two aren't as financially sound as they once were, GTA is going to give them a fairly amazing boost that really does put that $2 billion bid in the "inadequate" category.
I for one see the Take Two acquisition as being only a matter of time, but it's going to take a more realistic bid at a time that suits both parties. Let's just hope in the mean time that this acquisition doesn't affect any of Take Two's great titles (Bioshock, GTA, amongst others). The way it's going though, EA and Activision will have bought everyone out before 2012... Scary thought and lets hope an unrealistic one.
Source: http://www.gamesindustry.biz/content_page.php?aid=33465
After doing my ten times daily rounds on the internet, I've had the chance to read a few interesting rebuttals and responses to the EA offer of $2 billlion for Take Two. Now when I heard about their new official offer the other day, I thought April Fools day had come early... Were EA trying to sneak Take Two under their umbrella before one of the biggest games ever was about to be released? The answer to that is a resounding YES and Take Two have echoed my thoughts with their rebuttal.
Take Two king pin, Strauss Zelnick, called the EA offer "opportunistic" and "inadequate" amongst other things. Take Two said that
"We believe EA's unsolicited offer is highly opportunistic and is attempting to take advantage of our upcoming release of Grand Theft Auto IV, one of the most valuable and durable franchises in the industry"
They further stated that...
"Electronic Arts' proposal provides insufficient value to our shareholders and comes at absolutely the wrong time given the crucial initiatives underway at the Company"
In other words... Nice one EA, pull the other leg. Suppose it was worth a try and although Take Two aren't as financially sound as they once were, GTA is going to give them a fairly amazing boost that really does put that $2 billion bid in the "inadequate" category.
I for one see the Take Two acquisition as being only a matter of time, but it's going to take a more realistic bid at a time that suits both parties. Let's just hope in the mean time that this acquisition doesn't affect any of Take Two's great titles (Bioshock, GTA, amongst others). The way it's going though, EA and Activision will have bought everyone out before 2012... Scary thought and lets hope an unrealistic one.
Source: http://www.gamesindustry.biz/content_page.php?aid=33465
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