EA Ends Bid for Take-Two

[fitbabits]

According to REUTERS (http://www.reuters.com/article/marketsNews/idINN1439228620080914?rpc=44), Electronic Arts has ended its pursuit of Take-Two:

EA's decision came after the two companies said in August they were negotiating privately about a potential deal.

EA's unsolicited offer for Take Two was worth $2 billion, or $25.74 a share, which Take Two rejected as inadequate.

EA dropped its hostile pursuit of Take Two in August, which in turn agreed to spell out its three-year product plans to its rival, but only in private.

"After careful consideration, including a management presentation ... EA has decided not to make a proposal to acquire Take Two and has terminated discussions with Take Two," EA said in a statement.
Thanks to DesignerKid for the tip.

What next for Electronic Arts? Pursue another takeover of some other company, or settle for what they have and move on?

[JockoIsWacko]

Good! I was worried we have GTA every year starting with Part 5, 6, 7, 8, etc.

[DesignerKid]

I doubt this is the last we've heard of this; they can likely get Take-Two cheaper in 6 months.

Wait until tomorrow morning to see how they trade, assuming the whole market isn't down because of the problems Lehhmans is having.

[wyeast]

"EA has lost interest in Take-Two"

Yeah, like we haven't heard that already this year. :p

[Micasa]

EA dropped its hostile pursuit of Take Two in August, which in turn agreed to spell out its three-year product plans to its rival, but only in private.

So...Take Two told EA what they plan to do for the next three years and EA decided they don't want to buy them after all? What was their business plan - pulling a SEGA?

[bjornbarspingvinen]

Hooooorayy!
2ksports!

[jeffool]

Whew. I was scared for a second there.

[Norse]

Whew. I was scared for a second there.

What's up with your post count?

[jeffool]

I'm sorry I don't like talking about that.
*cough*If you say anything too loud, it will come... It'll eat your post count too!*cough*

[fitbabits]

What's up with your post count?

Don't mess with the Post Count Police!

[ElektroDragon]

For us this means better games, less DRM, more usage rights.... it could not have been better news. Music to my ears. EA is the definition of evil monopoly, or aspiring evil monopoly, not Microsoft or anyone else.

[Darkmatter]

uh, didn't we already hear a while ago that EA gave up? Or is this "gave up 2.0"?

[fitbabits]

uh, didn't we already hear a while ago that EA gave up? Or is this "gave up 2.0"?

RTA, sir. They've now completely given up.

[Bahamut]

For us this means better games, less DRM, more usage rights.... it could not have been better news. Music to my ears. EA is the definition of evil monopoly, or aspiring evil monopoly, not Microsoft or anyone else.

I don't know about necessarily better games - supposedly Take Two management is terrible. What other games do you look forward from them except GTAs?

[Hammer]

wow so take two is gonna make more crappy baseball games, and ea cant make their great baseball games (MVP Baseball 05 -- greatest baseball game ever). :(