fitbabits
03-27-2007, 08:15 AM
Gamasutra (http://www.gamasutra.com/php-bin/news_index.php?story=13295) is reporting that discussions between Take-Two and its shareholders are unlikely to amount to much of anything right before the delayed shareholder's meeting.
As earlier reported, following a seemingly endless string of court battles and financial issues including the recent shares stock scandal, it emerged that that a group of prominent Take Two investors, including OppenheimerFunds, D.E. Shaw Valence Portfolios, S.A.C. Capital Management and Tudor Investment, were looking to remove current CEO Paul Eibeler and bring about changes within the company's board of directors.
Take-Two then announced that it would be postponing its annual meeting from March 23rd until March 29th "...to provide additional time to review the proposed actions of the shareholder group and also to evaluate alternative courses of actions that could potentially be presented to the shareholders."
The main example of an alternative course of action is "a possible sale of the Company", though the official notice also added: "There is no assurance that any specific alternative proposal will be forthcoming."
As earlier reported, following a seemingly endless string of court battles and financial issues including the recent shares stock scandal, it emerged that that a group of prominent Take Two investors, including OppenheimerFunds, D.E. Shaw Valence Portfolios, S.A.C. Capital Management and Tudor Investment, were looking to remove current CEO Paul Eibeler and bring about changes within the company's board of directors.
Take-Two then announced that it would be postponing its annual meeting from March 23rd until March 29th "...to provide additional time to review the proposed actions of the shareholder group and also to evaluate alternative courses of actions that could potentially be presented to the shareholders."
The main example of an alternative course of action is "a possible sale of the Company", though the official notice also added: "There is no assurance that any specific alternative proposal will be forthcoming."