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Can't Steal 'Theft' - EA's Low-Ball Bid At Pre-'GTA4' Price

April 6, 2008 -- Electronic Arts' $26 a share hostile bid for rival video game maker Take-Two Interactive could come under pressure after a report last week predicted Take-Two's upcoming release of "Grand Theft Auto IV" could post record-breaking first week sales.

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decapitator3391d ago

Unfortunately, EA has the money and power to steal it. They hve already said they would go hostile if T2 continues to be hesitant.

decapitator3391d ago

Yeah my prayers is that, these two takeovers are not somehow related. Monopoly FTL.

va_bank3391d ago

It's already hostile. It became one on the day when the board rejected it and they continued to pursue it with shareholders.

From wikipedia:

"A takeover is considered "hostile" if:

The board rejects the offer, but the bidder continues to pursue it, or
The bidder makes the offer without informing the board beforehand "

http://en.wikipedia.org/wik...

decapitator3391d ago

I understand man but it does not feel very hostile yet. What Microsoft is doing with yahoo is what I consider hostile since they even went as far as to give them the dead line to take them up on their deal or they will be stepping up the heat.

Has Rockstar been getting the same kinda of treatment from EA yet ?

va_bank3391d ago

Yes, they have until April 18th to respond. I think it was originally the 8th (i think) than they extended it. Can't wait to see what happens on the 18th.

wow4u3391d ago

@1.1

MS's bid for YHOO is at *twice* the price the company was worth when they made the offer.

MS is being *very* generous in fact.

The shareholders want YHOO to accept -- and MS knows it, and the YHOO board knows it.

IntelligentAj3391d ago

Anyone who has an ounce of grey matter can tell that Take Two's share price is going to skyrocket after GTA4. This is the reason for EA accelerating their efforts, as they know it too.

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lodossrage3391d ago (Edited 3391d ago )

I thought EA already tried going to the shareholders

wow4u3391d ago

"Going to the shareholders" is a prelude to a proxy war (the shareholders displace the current board who refuse to accept the offer).

"a hostile takeover" is when CompanyA buys the un-willing CompanyB stock on the open market.

In neither EA/T2 or MSFT/YHOO is this a "hostile takeover".

va_bank3391d ago

What you are describing is only a part of "hostile takeover", a tactic that is used to gain votes. And you needs votes because Company B's management has already told you to take a hike. It's when the situation becomes hostile.

April 18th will be the day of big news on this. They are having the shareholder meeting on the 17th and get this: the WHOLE board is up for re-election at the same time. In other words, they are not staggered, all 8 of them can be thrown out that day and replaced with a much more "EA-friendly" people, who WILL agree to the sale for the given price. OR... on the 19th EA will up the offer and then it's done deal.

This Patcher dude who undeservingly became some kind of authority in gaming community says it will delay GTA release. Why he would make such a statement is beyond me.

va_bank3391d ago

I know that everyone is focusing on GTA right now (I am too), but does anyone else care that 2K Sports will no longer exist? I always liked them more then EA (I admit, I only buy the hockey games, but still)

SuicidalTendencies3391d ago

I'm with you VA. If EA takes over 2K sports I'll be done with sports games unless another company makes a hockey game. I never liked EA's sports games.

wow4u3391d ago (Edited 3391d ago )

@3.1

You should both play EA NHL08. Its terrific. You use the right analogue stick to simulate your stick -- it feels really natural... it takes a lot to get used to it, to switch from the old control scheme to this new one, but once you do, its a lot of fun.

I have 2K07 NHL and EA NHL08 is much better IMO.

va_bank3391d ago

It's a matter of prefernce. Look up "NHL0X vs NHL 2KX" and you will find a flame war. You like one, I like the other. In case of NHL08, I was extra-pissed off because the framerate was really bad compared to x360 version. EA screwed PS3 owners last summer big time.

Drekken3391d ago

No you cant.. they canceled fight night for the cartoonish facebreaker. Lets hope for the best with old crazy Don

Grown Folks Talk3391d ago

Wasn't aware they were getting rid of Fight Night. I might have to go pick up a Sega Genesis & get Greatest Heavyweights again.

Drekken3391d ago

They closed the studio that produced it, so in turn it was canceled. Horrible choice IMO, that was the first game I bought with my PS3.

Grown Folks Talk3391d ago

Even when it was Knockout Kings it was still pretty good. I was glad they went away from the unlimited haymaker they had in round 2. If they are going this route, they might as well just released that arcade boxer with the green grid dude.

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