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Takeover • Page 3

  • FTC a-okay with EA’s bid for Take-Two

    Well, that was quick. The Federal Trade Commission is done snooping around EA and Take-Two, and has given the merger its approval. Now, barring any issues that the FTC feels “public interest” may be against, Take-Two’s belligerence is the only force standing between Take-Two and EA’s mighty jaws. The two companies are currently in talks, […]

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  • EA won't extend Take-Two deadline, deal to lapse

    EA’s announced that it won’t extend its deadline to buy Take-Two after its current deadline lapses tonight, saying that it doesn’t believe it could integrate the firm in time for Christmas if things drag on any longer. Take-Two shares fell nearly 6 percent in premarket trade to $23.38 today. The news comes after weekend talks […]

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  • Activision puts Massive up for sale: "We have plenty of options," says Walfisz

    Speaking exclusively to VG247, Massive Entertainment’s senior execs have revealed that they’re already in talks for a potential sale of the World in Conflict developer, following now-confirmed news that Activision is to sell the outfit as a result of its merger with Blizzard. “It seems like we have plenty of options,” said company president and […]

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  • Valve "happy" to talk about acquisition

    Valve’s Doug Lombardi has said the firm is open to talk about acquisition in an interview with Gamasutra, the first time the shooter developer has mentioned anything of the sort in public. Valve’s “happy to have that conversation,” he told the site. “By the same token, the company’s doing pretty well, and we’re really happy […]

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  • Seeking Alpha: "Microsoft is a likely bidder for Take-Two"

    Seeking Alpha’s published a piece saying Microsoft could be interested in buying Take-Two. “I think that Microsoft is a likely bidder for Take-Two. Microsoft already makes a video game platform (Xbox and Xbox 360) as well as independently publishes video games.” The unnamed author added: “Microsoft could become a serious player in the video game […]

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  • EA’s Riccitiello: “I don’t care if people write about Take-Two”

    Seems like not a day goes by without an article about Take-Two and EA sitting in a tree. But even amidst all of the commentary, in an interview with VentureBeat, EA CEO John Riccitiello was nonchalant about his company’s current prey. “I don’t care if people write about Take-Two,” he said. “It doesn’t matter to […]

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  • EA extends Take-Two offer, Zelnick responds

    EA’s extended its tender offer for Take-Two, after capturing only 15 percent of the company’s shares with its previous deadline. The offer is now valid until 11:59pm EST on August 18. This is the fourth time EA has extended its deadline in this way. Take-Two chairman, Strauss Zelnick, responded, “Take-Two’s Board continues to be 100 […]

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  • Activision and Vivendi officially merge

    Activision and Vivendi have officially merged to form one of the longest game company names ever, Activision Blizzard. The last obstacle to the creation of the industry’s biggest publisher was cleared yesterday, after Activision shareholders approved the deal. All the dirty details can be found here. By Jerry Burns

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  • Activision shareholders approve Vivendi deal

    The Activision-Vivendi deal has been approved by a 92 percent majority of Activision shareholders and is expected to be closed today. The news marks the removal of the final barrier to the creation of the world’s largest videogames publisher. The deal gives Vivendi a 52 percent controlling stake in Activision. More on Reuters.

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  • Ubi acquires Sin City effects studio, Hybride Technologies

    Ubisoft’s confirmed a “media convergence” today in the shape of Montreal company Hybride Technologies. The special effects studio is known for its work on films primarily, such as 300, Sin City and the Spy Kids series. “This alliance is a true first for the industry,” said Yannis Mallat, Ubisoft Montreal CEO. “Ubisoft and Hybride share […]

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  • Internal tension mounts as Activision-Vivendi merger heads for approval

    In case you’d forgotten, Activision shareholders are voting today on whether to approve the Vivendi merger and create the world’s largest games publisher. The City is excited by the prospect, and Wall Street has been heavily tipping the new firm for profitable performance in recent weeks. There’s a high level of tension in the companies […]

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  • Crave left ESA because of company sale factors, says boss

    Speaking to GI, Crave chief Michael Mass has admitted that the company’s decision to leave ESA had nothing to do with the organisation itself, but was rather motivated by an upcoming company sale. “Crave’s departure from ESA at this juncture is not a statement against the value provided by our longstanding membership, but rather was […]

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  • Take-Two reaches agreement with FTC

    According to this Reuters report, Take-Two has reached a deal with the FTC that will allow the firm to lessen the volume of information it’s providing to the body relating to its potential EA takeover. “Take-Two said that it agreed with the FTC on Wednesday to continue to provide information, but limit the scope of […]

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  • EA extends Take-Two offer to July 18, no price change

    EA has extended its offer on Take-Two to July 18. The previous offer expired at 12am EST yesterday. “Our offer price remains unchanged at $25.74 per share, which is a substantial premium to where Take-Two’s stock was trading prior to our offer,” said Owen Mahoney, SVP of EA Corporate Development. “We congratulate Rockstar on the […]

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  • EA deadline for Take-Two buyout passes today

    As GamePolitics reminds us, the deadline on EA’s extension to buy Take-Two shares ends today. A further extension is almost certain, given that the FTC is still investigating the merger, so expect to hear something on that either this evening or tomorrow morning.

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  • Take-Two would be good fit for Ubisoft, says Forbes

    This Forbes article argues that EA isn’t the only way forward for Take-Two is the firm did decide to go down the merger route, saying that Ubisoft would also be a good option. “Ubisoft has shown they do a good job of managing original intellectual property. Culturally, Take-Two developers would not have a problem at […]

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  • EA offer costs Take-Two $5.3 million in legal fees

    As part of last night’s quarterly financials statemen, Take-Two confirmed that it has so far spent $5.3 million on legal fees thanks to EA’s offer for the company. The press release noted that te firm had binned “$5.3 million in professional fees and legal expenses, with the majority related to Electronic Arts’ unsolicited tender offer.” […]

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  • Take-Two actively in discussions with a number a companies over buyout

    Take-Two boss Strauss Zelnick has just confirmed that the company is in active discussion with several companies to sell the company. “We’re actively engaged in that process now,” he said, talking in an ongoing conference call backing up a Q2 financial release. “We have and continue to have” discussions with “a number of third parties,” […]

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  • EA agrees with FTC to not buy Take-Two until investigation is over

    EA announced today that it’s reached and agreement with the Federal Trade Commission to not buy Take-Two until the regulatore has finished investigating the proposed deal. The publisher said it would wait for a further 45 days after delivering information required by the FTC probe or the completion of the investigation, whichever came sooner. More […]

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  • Epic acquires Chair Entertainment

    Epic’s confirmed is acquisition of Chair Entertainment, the developer of XBLA game Undertow. The smaller company has now become a wholly owned subsidiary of the Gears of War developer and will continue to, like, make games using the Unreal Engine. Financial terms weren’t disclosed. Press release after the link.

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Takeover Latest

  • Schachter: EA likely to win Take-Two battle

    UBS analyst Benjamin Schachter said this morning that EA is likely to succeed in acquiring Take-Two and that a bid in the $26-$28 range should seal the deal. The analyst added, however, that “the timing may be protracted,” and while the stock is trading above the current bid price of $25.74 a share, “this is […]

  • EA likely to extend Take-Two offer deadline

    According to a Wall Street Journal piece, EA is likely to extend the deadline of its $2 billion offer for Take-Two after its already lengthened time-limit ran out last Friday. “Electronic Arts Inc. is likely to again extend the deadline for its hostile tender offer to acquire videogame rival Take-Two Interactive Software Inc. after failing […]

  • Sebastian: Expect Take-Two buyout news on Monday

    Lazard Capital’s Colin Sebastian just issued a note on last night’s EA financials saying that news on the company’s proposed buyout of Take-Two can be expected next Monday. “Expect update on TTWO bid by Monday morning,” he said. “We continue to believe that the current offer of $25.74 per share would be accretive to earnings […]

  • EA shores up $1 billion in credit for T2 takeover

    EA’s secured a $1 billion credit line to aid it with its proposed $2 billion takeover. The cash is being fronted by Morgan Stanley, BNP Paribas and The Bank of Nova Scotia, among others, and can be accessed any time up to January 9, 2009. “This is a process point on something we had disclosed […]

  • EA: Take-Two deal now “50/50 at best”

    GI’s landed a whopper this morning, with EA comms head Jeff Brown telling the site that a completion of Take-Two buyout is now “50/50 at best”. “We’re not desperate and there’s a clock ticking,” said the exec. “It’s always been mystifying as to why they thought it was important to wait,” he added. “Everybody knew […]

  • Zelnick “vindicated” on EA stance by GTA IV performance

    Bit late on this, but Take-Two chairman Strauss Zelnick’s told the New York Times that he feels “vindicated” in fighting off EA’s advances by the initial success of GTA IV. “The critical and consumer response to Grand Theft Auto IV vindicates our strategy of waiting until the launch with regard to EA’s offer,” he said. […]

  • Warner Bros to give SCi £15 million

    Warner Bros has confirmed a plan to buy £15 million in SCi stock, and to take control of the publisher’s distribution in the US, Canada and Mexico. In addition, SCi said the move was just the part of a plan to raise £60 million through an issue of 171,605,424 new shares at 35 pence per […]

  • SCi rejects latest offer, rumour swirls around Time Warner

    According to GI, SCi rejected the latest offer for the company. From the site: UK publisher SCi has confirmed that it has rejected the latest offer made for the company, saying the proposal failed to “represent sufficient value.” The unnamed third party’s offer came with a “significant premium” on the publisher’s current share and offered […]

  • SCi confirms “open offer” talks

    SCi has issued a statement confirming it is in talks to effectively sell the company, following weeks of speculation that Time Warner, NBC and various other companies are courting the Lara owner. “The Board of SCi notes the recent speculation about an equity issue and confirms that it is considering a placing and open offer […]

  • Zelnick laughs in EA’s face over new offer

    Strauss “Packet” Zelnick isn’t impressed with EA’s new tender offer for Take-Two of $25.74 per share. He’s not impressed at all. The reduction in price from $26 per share is based on the fact shareholders – some of them, anyway – agreed to tender a further 1.5 million shares to ZelnickMedia at Take-Two’s AGM last […]

  • EA extends Take-Two offer, cuts price

    From here: SAN FRANCISCO, April 18 (Reuters) – Electronic Arts Inc (ERTS.O: Quote, Profile, Research) on Friday said it extended its tender offer for Take-Two Interactive Software Inc (TTWO.O: Quote, Profile, Research) by nearly one month at a lower price of $25.74 per share, drawing out a standoff between the two video game publishers. The […]

  • Take-Two sued by shareholder

    Kotaku reports that a Take-Two shareholder is suing the company after it rejected a bid from EA last month. The claimant, Patrick Solomon feels that Take-Two’s execs are just holding out for money. So cynical. The lawsuit is centred around the February 15 decision to increase ZelnickMedia’s management fees and bonuses to $16.5 million, from […]

  • Hickey: EA may have to go to $30 per share for Take-Two

    Janco’s Mike Hickey reckon’s EA has only managed to get hold of 25 percent of Take-Two with its tender offer, which expires tomorrow. “We continue to believe EA wants to buy Take-Two but will likely have to raise their tender to $30 per share if they expect to close the deal. We maintain our view […]

  • FTC requests more info from EA on Take-Two offer

    From here: Electronic Arts Inc. said Thursday that it received a second request from the Federal Trade Commission in relation to its proposed $2 billion purchase of Take-Two Interactive Software Inc. EA, which is the world’s largest video game publisher, said that while it believes the proposed acquisition would not be anticompetitive, the FTC hasn’t […]

  • Take-Two receives no stake-holder proposals ahead of AGM

    Take-Two’s just announced that it has received no stake-holder proposals ahead of its AGM tomorrow. Bet EA’s thrilled. From here: Take-Two Interactive Software Inc., which publishes and distributes “Grand Theft Auto” and other popular video games, said Wednesday that it did not receive any shareholder proposals for consideration at its annual meeting. Take-Two is attempting […]

  • Ubisoft to buy Indian Gameloft studio

    According to numerous reports, Ubisoft is to buy Gameloft’s Indian development studio for an undisclosed sum. The sub-continental outfit employs 120 game developers and testers, and Ubi plans to build this to 200 developers in the next 12 months, and to 500 in the coming years. The studio is a handheld operation, creating games for […]

  • EA’s tender bid for Take-Two in excrutiating detail

    One for the bookmark. You can find the SEC filing detailing EA’s tender offer for Take-Two here. Did you know, for example, that the $26 per share offered amounts to exactly $2,152,261,826? The entire buyout issue will be headline news pretty much everywhere this week, as Take-Two holds its AGM in New York, a meeting […]

  • Take-Two to webcast AGM on April 17

    Take-Two’s AGM, to be held on April 17, will be broadcast live, the company has announced. A listen-only webcast will be available from http://ir.take2games.com for the meeting, which is obviously going to attract a huge amount of attention due to EA’s aspirations to buy the publisher. The W Hotel Union Square will hold the event, […]

  • Rockstar Games acquires Mad Doc, forms Rockstar New England

    Rockstar’s bought Bully: Scholarship Edition developer Mad Doc. The acquisition has allowed the Take-Two division to set up Rockstar New England. “The team at Mad Doc Software is extremely talented,” said Rockstar boss Sam Houser. “Bringing them within the Rockstar Games family will enhance our core technology and further support our commitment to creating progressive […]

  • Buyout talk boosts SCi share price

    The Guardian’s speculating that a bid of 80p per share has been put in for SCi. The company’s shares rose 20.4 percent today on the news. SCi’s stock’s trading at 60.5p following the increase. The British paper’s named Time Warner, Infogrames and Ubisoft as potential suitors.

  • Capcom buys Tenchu developer K2 Studios

    Capcom has announced that its wholly acquired K2 Studios via a simple exchange of stock which is expected to be completed on May 1. “K2 has a proven record as a reliable provider of game development services for Capcom. By making this company a wholly owned subsidiary, Capcom plans to make its game development activities […]

  • EA extends time limit on Take-Two offer

    EA has extended the time limit on its $2 billion offer for Take-Two to April 18, as you can see here. From the press release: EA has extended its tender offer for all of the common stock of Take-Two until 11:59 p.m., New York City time on Wednesday, April 18, 2008, unless further extended. The […]

  • Take-Two board rejects EA $26 per share offer

    Take-Two’s board has rejected EA’s $26 per share offer for the company, saying that it has “thoroughly reviewed Electronic Arts’s unsolicited conditional tender offer with the assistance of its financial and legal advisors and unanimously determined that the $26.00 per share cash offer is inadequate in multiple respects and contrary to the best interests of […]

  • Riccitiello warns Take-Two investors of “scary” stock consequences of EA pulling out of bid

    EA CEO John Riccitiello has issued a stark warning to Take-Two investors a day after making a $2 billion tender bid for the publisher, saying that the affect on Take-Two’s stock could be dramatic if the takeover attempt comes to a sticky end. “If we don’t conclude this transaction, if we walk because of whatever […]

  • Pachter on Take-Two buyout: “A sale is inevitable”

    Wedbush Morgan’s Michael Pachter is in no doubt that EA will now acquire Take-Two, telling videogaming247, “A sale is inevitable.” EA made a $26 per share tender bid for Take-Two this morning, a move which has just promoted Take-Two’s management to warn its shareholders off accepting the offer for at least ten working days. Pachter […]

  • Take-Two bid likely to succeed, says analyst

    Stern Agee analyst Arvind Bhatia has said he now thinks it’s likely that EA will complete a takeover of Take-Two, following the firm’s tender offer of $26 per share this morning. “We feel the tender offer is likely to succeed as TTWO shareholders consider and weigh the risk of EA walking away from the proposal […]

  • Take-Two warns shareholders off EA offer

    Take-Two has told shareholders not to act on EA’s $2 billion tender offer for the firm, and that it will review the bid over the next ten working days. The offer is due to expire on April 11 at midnight, unless extended. Take-Two’s AGM is on April 10.

  • Confirmed: EA makes aggressive bid for Take-Two

    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 […]

  • EA to take Take-Two bid hostile, says WSJ

    According to this, the Wall Street Journal is reporting that EA’s not gong to wait for Take-Two to decide whether or not its ready for talks and is readying to moved on the company wholesale. EA “plans to make a tender offer to acquire all of rival video game publisher Take-Two Interactive Software Inc’s outstanding […]

  • Take-Two announcing first-quarter results on March 11

    Take-Two will announce results for its first quarter – ended January 31 – next Tuesday, March 11 after the close of the NYSE. There’s going to be a investor conference call following the release of the figures, so expect some big questions and answers related to the company and its dealings with EA to hit […]