Mike Hickey, analyst for Janco Partners, believes that EA CEO John Riccitiello overstepped the mark in a New York Times interview yesterday, in which he described EA as a “white knight” attempting to rescue Rockstar from Take-Two’s instability by buying the firm.
“My belief is Rockstar would be perfectly happy if EA never put a bid in at all. White knight commentary is total bullshit, and disrespectful to both the developers at TTWO and the new management team that has already achieved success,” he said.
Wedbush Morgan’s Michael Pachter was also fairly blunt about the comment.
“‘White Knight’ usually signifies rescue from a hostile suitor (the connotation is to a damsel in distress),” he said. “I think Riccitiello’s use of the term was incorrect, and perhaps a misplaced attempt to sound clever. They are in no sense a White Knight.”
There isn’t much love in the room. Take-Two investors currently have a deadline of April 11 to respond to a tender off of $26 per share for the company from EA.