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EA-Take-Two? How About Take Four in This Never-Ending Takeover Saga
Posted Jun 18, 2008 03:44pm EDT by Aaron Task in Investing, Gaming, Software and Services, Venture Capital, M and A, IPOsWhen Electronic Arts extended its takeover bid for Take-Two yesterday, many observers were hit with a case of déjà vu. That's understandable because this is now the fourth time EA has extended the bid, which remains at $25.74, and which Take-Two summarily rejected.
"The latest extension of EA's unsolicited, highly conditional tender offer does not alter the fact that their proposal still significantly undervalues Take-Two," Take-Two chairman Strauss Zelnick said in a statement.
By repeatedly re-extending its bid -- but not raising it -- EA is sending a curious signal and hurting its credibility, says Henry Blodget.
That may be true, but Take-Two shareholders should consider the risk/reward of holding the stock on the hopes for a deal, which may never materialize.
Meanwhile, Cadence has "designs" on Mentor Graphics as the "hostile bid in tech" genie unleashed by Larry Ellison grows even more powerful.
2 Comments
joeriwillems - Friday June 20, 2008 03:56AM EDT
EA just sees this takeover as a game. Saying EA does not deliver quality is exaggerated, don't forgot, they did publish most of the big titles a while ago. But recently, yes, quantity goes over quality.
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walther2140 - Wednesday June 18, 2008 11:36PM EDT
It will be a sad day for the gaming industry if a takeover by EA ever does materialize. As a casual gamer, and friend of a few more serious gamers, I am deeply concerned with what will become of Take-Two's quality game titles if this takeover occurs. As many know, EA does not produce quality. Instead they produce titles that are attached to well known themes, which attracts the ill-informed gamer crowed, which just so happens to be the majority of the gaming community, no offense. This may look like a great way to turn a dollar, but in the end it will only be a blow to the industry and should therefore be discouraged.