News

EA dumps Take-Two take-over discussions
Posted: 15.09.2008 17:41 by dtungsten Comments: 6
Electronic Arts said on Sunday that they are no longer interested in acquiring Take-Two. A press release made the announcement stating that “after careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two … EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two.”

John Riccitiello, the CEO of EA added, “EA is tracking toward a record breaking year. We're launching 15 new games including award-winners like SPORE, Dead Space and Mirror's Edge, great new titles from the Sims, new family titles with Hasbro, and the highest quality slate of EA SPORTS titles on this generation of consoles”.

In pre-market trading on Monday morning shares of Take-Two dropped dramatically down $6.44 or about 29%, while shares of EA are down only $2.48 or 5%.
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Comments

By herodotus (SI Herodotus) on Sep 15, 2008
herodotus
Haha. Take-Two and 2k Games have been refusing EA's offers for 8 months now. So, miffed as they are, EA has announced THEY don't want THEM. Sour grapes EA.
By Wowerine (SI Elite) on Sep 15, 2008
Wowerine
I think they want this because of some games like Bioshock, and GTAIV, gosh, these guys LOVE money!
By Orv (SI Core) on Sep 15, 2008
Orv
If I were Take-Two or 2k Games I would be running as far away as possible from EA.
EA really has nothing worthwhile to offer them at this juncture, since they hardly need the power behind EA to get their titles out and into the limelight.
I don't intend that as a dig against EA so much as a 'props' to TT & 2kG for their success to date.
By Knave (SI Core) on Sep 15, 2008
Knave
EA has enough market share as far as i'm concerned. I'm glad they've dropped their bid. TT is better off on it's own.
By ScythSoulces (SI Core) on Sep 16, 2008
ScythSoulces
Agree.
By FoolWolf (SI Elite) on Sep 17, 2008
FoolWolf
After how BioShock treated customers, I think that Take 2 and EA would be a perfect match. Not for us gamers ,mind you, but for the two publishers that seems to hate their players the most!

If they merged, you would simply know that you just should avoid EA and continue to be safe with that choice. Yeah, I don't like EA if that hasn't become obvious yet ;)