150°
Submitted by Ghoul 2229d ago | rumor

EA's Take-Two Takeover Goes Hostile

So Take-Two won't play nice with EA's buyout offer? That's fine by EA. Playing it nice was a courtesy, an act of politeness on their part, but in light of Take-Two's reluctance (and some would say greed), they've now no other option. It's (apparently) time to go hostile. The Wall Street Journal report that EA's takeover payout to shareholders will be...$26 per share, exactly what was offered to Zelnick & co. the first time around. There's been no comment as of yet from anyone at either Take-Two or EA regarding the matter. (Industry)

Update OK, it's now official. EA boss 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.

UPDATE 2

Now Take-Two is "recommending" that stockholders give the offer a pass.

The Board of Directors of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today recommended that Take-Two stockholders take no action at this time in response to the announcement by Electronic Arts Inc. (NASDAQ:ERTS) that it has made an unsolicited conditional tender offer to acquire all of Take-Two's outstanding shares of common stock for $26 per share in cash.

Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, Take-Two's Board will review and consider EA's offer, and within 10 business days, will advise Take-Two's stockholders of the Board's position regarding the offer as well as its reasons for that position.

Credit url: kotaku.com
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mintaro  +   2228d ago
sigh......
Breakfast  +   2228d ago
get ready for ping pong every year now... and considering the popularity of gta, theyll probably make it 3 times an year.
Tempist  +   2228d ago
The Hilarity factor lies in the fact that EA's stock goes down and Take Twos is nearing $26. That means EA would have to pay out like $28 a share. This keeps getting more expensive for them.
masterg  +   2228d ago
The last thing we need is Rockstar under EA control.
Genesis5  +   2228d ago
I really don't play a lot of EA games,that looks like it might be changing because I will not have a choice.I don't think we need one big conglomerate running the whole show.
Breakfast  +   2228d ago
omg...think of the sports games...they barely have competition now. If this goes through then 2008 will be the peek of EA's almost obsolete innovation
InYourMom  +   2228d ago
EA
You are the scum of the gaming industry. I've never been big into the whole boycott EA thing, but I think it might be time to start.
fenderputty  +   2228d ago
I hate EA
enough to willingly give up any chance at having Bioshock 2 come to the PS3. I hope the shareholders don't do this. I would hate to see T2 get swallowed up by whats becoming the WALMART of gaming.
LastDance  +   2228d ago
the worst part is EA is pushing hard to get T2 BEFORE GTA comes out.

Disgusting.

Greedy C***s
bootsielon  +   2228d ago
New EA
I think EA is becoming a new company for the better, we don't have to worry much
HarryEtTubMan  +   2228d ago
lol all they have to do is make a console with GTA, Mercenaries, Mass Efect, Bioshock, Madden and eerything Exclusive. The competition will be DEAD. I keep telling u guys but EA is looking to make a console and I think with Mircrosoft. The have to literally shut Sony out. They are too powerful. I dont think we will see a PS5.

EA and Micrsoft or EA by themselves are going to take Sony out. Watch its going to happen. Look whats happening now!!! No console EVER comes from behind like this at such a high price and starts beating the console first. Just like Madden is still goin to run at 30 FPS this year on PS3 ON PURPOSE. Just like Peter Moore(un biased corporate employee right?) was bashing PS3 FANS and saying how they were telling people not to like Micrsoft and EA. Just like the had a huge section TOGETHER at GDC. Just like the bought Bioware(which only developed on 360) Just like they are trying to now secure GTA and Take Two(so there will be no other sports teams to compete with)

If Ea MAKES A CONSOLE NEXT GENERATION ITS OVER and gaming is in the hands of an evil empire forever that doesnt strive on innovation, the nest hardware and technology and competition(Sony) but will TELL YOU you have to pay for "Live"(notice it is changing)

Thats what all of this is about. Everyone knows EA doesnt want Sony in the buisness anymore and wants to steal their role. It just either by themselves or with Microsft.
#3.1 (Edited 2228d ago ) | Agree(0) | Disagree(2) | Report | Reply
vudu  +   2228d ago
figures
Disappointing that EA can't be satisfied until it monopolizes the whole industry.
Lotto  +   2228d ago
well this is how ea makes money. Buy Studio with X great games that ppl know and like. Then milk the great games until they become dust
BigKev45  +   2228d ago
This will suck if EA buys them out. No more good GTAs, Bioshocks, NBA 2K
games.
Ghoul  +   2228d ago
biohock 2 wont be bad because EA will publish them EA is a Publisher no developer dont forget that.

But the 2k sports series is most likly to be cut off :(
GutZ31  +   2228d ago
EA is a publisher, but you forget they push the developers to time constraints as well as less time for testing and money given to the developers.

EA is a scum sucking company not worth any gamers money.
DiabloRising  +   2228d ago
Quality gaming on the decline...
BigKev45  +   2228d ago
Nah, I disagree. But I hope your right.
Super_Sharp Sharpee  +   2228d ago
THE END IS NI!!!
Ghoul  +   2228d ago
The Problem is EA is not bad as a Company,
but that Monopol they try to build is dangerous to the whole industry

The thing is EA has good games, As long as EA publishes AAA games they turn out to be good. Let's just hope EA doesnt merge some of the T2 studios into something new.
#9 (Edited 2228d ago ) | Agree(6) | Disagree(1) | Report | Reply
King2008  +   2228d ago
I know most people dont like EA
but if they only act as a publisher and leave studios that have fantasic franchises to do their work I dont see a problem with them buying whoever...they have great marketing knowhow, and is just a giant in this industry. I highly doubt they would try and crank out yearly GTA: chicago (old Al Capone era would be sick) GTA: Orlando disney edition GTA: Maddan 09....At least thats my take. Maybe EA is acquire talent because it lacks talent...
fenderputty  +   2228d ago
Can you find me one company
or franchise or game series that has benefited from an EA take-over?
Bnet343  +   2228d ago
Criterion Games - Burnout Series
DICE - Battlefield series (2142 sucked though, but BF2 was the best one)
EZCheez  +   2228d ago
@Kigmal
That's a pretty short list.

And in all honesty, I don't think Criterion benefited that much from their buyout. Criterion has always made good games.
desolationstorm  +   2228d ago
Think this is just funny, couldnt care less what happens there will always be good games people just get to used to certain developers and act like they can only produce good games.

Its an expensive industry and this is what happens money gets thrown around. Besides you dont have to be a part of EA to make sh!t games.

Hey if this means that some of the people behind NFL 2K5 can help make madden better Im all for it. Besides people get so caught up in a developer that they fail to see that the programmers are responsible for good games. Rare hasnt been the same since it lost a lot of talent and it had nothing to do with Microsoft buying them. IMO that is.

Besides Activision has pretty much made it so EA has to work harder both those companies growing is actually a good thing. Skate is gonna make Hawk games stop being the same old sh!t and Rockband is gonna push GH.

Im not all about EA or anything but you know what are you gonna do besides not buy their games?

Now when EA tries to buy Valve then Ill care.
GutZ31  +   2228d ago
your worried about valve, but not other company's that were great, on the rising developer/publisher company's and EA ate them.

Valve is quite innovative, but so is Take Two, so you see, if your argument is saying that you don't care about Take Two, but you care about Valve, you are being more then anything, hypocritical.

The industry does better with competition, not one publisher with all the card in hand to play solitaire as they please.
#11.1 (Edited 2228d ago ) | Agree(0) | Disagree(1) | Report | Reply
travelguy2k  +   2228d ago
If EA buys take two
that means they can extend the NFL license to 2k sports.
desolationstorm  +   2228d ago
Because its an opinion, I dont really care for the GTA series. I care about valve because they honestly feel like a company that cares about the gamers in general. Its not innovation I care abotu its about the sense that a company really strives to make good games because they honestly like their fanbase that surrounds their games. Not saying that Rockstar doesnt, but liek I said I dont really care about their games an opinion is an opinion.

Would I really care if Valve gets bought out? Not really, because you move on and find other series and besides you never know what will happen its an assumption at best to assume a series quality goes down when bought by the competition.

The industry does better with competition thats true. But competition isnt just about games its about franchises and developers also. I was talking about Activision being gigantic also. EA is responding to that because the first time they feel threatened as the biggest publisher.

Also I said that buying Take Two would bring in some programmers that could help the madden series beause like I said NFL2K5 is my favorite football game.
jessupj  +   2228d ago
@ desolationstorm
Actually valve don't seem to care at all about PS3 gamers. It's been very cleary stated they have no intention of producing games for us. Why, you ask? Why are they purposly missing out on a 10 mil (and increasing) user base? Well you tell me.
Enigma_2099  +   2228d ago
And what's wrong with improving your OWN games...
... as opposed to buying out rival companies that make better ones?
DJ  +   2228d ago
The way they see it
They need to purchase Take-Two Interactive before GTAIV is released, otherwise their stock will be too expensive.
Covenant  +   2228d ago
Good point, which I'll bet is why they're being so aggressive now.

Just to spite them, Take-Two should publish GTAIV NOW, and drive up their stock.
EZCheez  +   2228d ago
Covenant
That's the best idea I've heard in a long time.
The_Engineer  +   2228d ago
all take two
has to do is send out a letter to its shareholders, explaining the idiocy of selling out to EA before GTA4 comes out. They stand to make more money by holding on to their shares. In fact I would buy even more take 2 stock while its low.
LastDance  +   2228d ago
EA - GTA 5

They will introduce a toll gate system. when you drive to a new island, EA Charge on your credit card.

Challenge everything.
Tsalagi  +   2228d ago
Alright!!!
I can't wait to play Bioshock and GTA 09!!!!! I hope they're working on that custom plasmid and rims microtransaction right now!!!!!!

Before you slower people burn that disagree button up....

*Sarcasm -Stating the opposite of an intended meaning especially in order to sneeringly, slyly, jest or mock a person, situation or thing. It is strongly associated with irony, with some definitions classifying it as a type of verbal irony intended to insult or wound.*
#13 (Edited 2228d ago ) | Agree(8) | Disagree(0) | Report | Reply
likeaboss302  +   2228d ago
After playing Army of Blah...
I hope EA doesn't succeed in this. They can't seem to get what would be good concepts right.
SPECTER  +   2228d ago
Well if this is true....
get ready next year for GTA2010 then the next year GTA2011 where its the same game only they tuchedup the visuals and you can run differently.
xionpunk  +   2228d ago
Not lookin good for take 2.
Covenant  +   2228d ago
Goodbye 2K Sports...

Goodbye quality...
joevfx  +   2228d ago
DONT DO IT TAKE-TWO!!!
dont give in to those greedy non creative EA bastards.
Niclas  +   2228d ago
...
NOOO TAKE-TWO DONT GIVE IN TO THE DARK-SIDE!!

what will they not do with our beloved Bioshock/GTA .. turn them failure franchises released every single year? and then rape the rest of take-two?.. i believe so..

Seriously f*ck EA and their evil plan to make a single gaming system.. what overprised crappy broken games wouldnt se the light on such a thing tbh.. ´

EDIT: (noticed some ppl saying EA wont ruin the games, and just leave the companies to make their games, and act simply as a publisher.. if only that was true.. ya know, EA had a tendensy to "Rush&Ruin" every game they can get their hands on.. they dont care about the games? its the moneeeeey) lol
#19 (Edited 2228d ago ) | Agree(0) | Disagree(0) | Report | Reply
harv052  +   2228d ago
And that's the f*cked up thing about shares and stock markets...Your company is not even for sale, yet someone can still buy it....It just sounds stupid...Imagine someone buying your house even if it's not on sale, how mad would you be?

Still, EA is starting to piss gamers off. And it's only the beginning. I think they'll stop when they have their monopoly...Reminds me of a certain company that when to court for that.........
poopface1  +   2228d ago
well I hate EA pretty bad now
why cant they actually IMPROVE Madden instead of buying their competition? I always liked 2k football games better, mabe cause I had a dreamcast but whatever. I really dont think ea deserves any part in some of my favorite games like GTA and Bioshock. Why dont they try and make good games themselves instead of buying everyone elses games. EA can lick my balls. I hope GTA 4 is REALLY good cause it may be the last one I ever buy.
streeks1984  +   2228d ago
I have boycotted EA and I will continue to boycott EA because they are crap.....I will pray about this every night because I hope it doesnt happen LEAVE TAKE TWO ALONE EA PLEASE DONT RUIN THE GAMING INDUSTRY.
Meus Renaissance  +   2228d ago
Everyone hates EA but you all still buy their games. Make up your minds!
fenderputty  +   2228d ago
I have not bought one
EA game this generation.
likeaboss302  +   2228d ago
No...
I just rent them through Gamefly. :)
Lotto  +   2228d ago
I steal em
REPLOID24  +   2228d ago
That would be bad
These guys are just about ramming crap down your throat every year. They said they want a Call Of Duty every year. That would definitely hinder the quality of the games. Good games take time to develop, but EA doesn't care as long as they get your 60 bucks.
desolationstorm  +   2228d ago
umm Activision said they want to put out CoD every year that has nothing to do with EA. Welcome to the world where the point is profit. If they didnt well they wouldnt continue on in this industry for very long. Names sell all the time, good games dont always.
Keyser  +   2228d ago
Sad News...
for shame EA, for shame...
7h3ultim8p00  +   2228d ago
maybe EA really wants to go into the console business. They'd almost be like an American Sony. They have their own second party studios don't they?
poopface1  +   2228d ago
I really hope that they can hold out untill after GTA4
cause if EA sees even a little of that money ill be sad. And like someone said that sure will increase their price and Id like to see it cost EA WAY more than they were hoping, if this happens.
TheExecutive  +   2228d ago
dont worry R* you have a home elsewhere.
Electronic Arts  +   2228d ago
You cannot stop EA.

We are bigger than you.
We have more money than you.
We make Battlefield, Commander & Conquer, and James Bond games.

You cannot escape our buyouts

And we suck at porting so we hope you know how to dev for ps3 :D
xsteinbachx  +   2228d ago
why did i know that someone was going to do this.
beardtm  +   2228d ago
I Love EA.

I dont know why you guys hate them.

You just fear change, nothing but good things will come from EA buying Take-Two.

And an EA console would be the best thing ever!
7h3ultim8p00  +   2228d ago
No, it would be gaming-hell on earth. Can you imagine the....urgh...the horror of sequels that look exactly the same!
GutZ31  +   2228d ago
Thats about the smartest comment I've seen coming from a liming.
7h3ultim8p00  +   2226d ago
Lol and you can't even spell lemming right. Man, classic self-ownage right here.
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