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EA has made a tender offer of $26 per share for Take-Two, an offer valued at approximately $2 billion and a 64 percent premium over Take-Two’s closing stock price on February 15, the date of the last bid to be rejected by Take-Two’s board.
EA CEO John Riccitiello: “This is a great opportunity for Take-Two shareholders. 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.”
The tender offer is scheduled to expire at midnight, New York City time, on Friday, April 11, 2008, unless the tender offer is extended.
More here.
Viewing 4 responses
Blerk said:
Well, here we go. I wonder what’ll happen?
patlike said:
It’s all over bar the shouting. At least Strauss is going to make a million billion pounds out of it. Good for you, Strauss.
Blerk said:
It’s not very good though, is it? I don’t much like EA getting all argy-bargy and muscling their way through the games industry like Microsoft on steroids.
patlike said:
Well, I guess they feel they have to do it to compete with Acti-Blizz. I actually admire it, to be honest. It’s an incredibly ballsy move, and it’ll give EAke-Two a brilliant line-up. It’s exciting, in any case.