Take-Two's management and company leaders are all recommending that their stockholders reject EA's offer for a buyout at $26 shares.
Take-Two still believes that EA's offer is "still at the wrong price and is still at the wrong time." They believe it is timed to take advantage of the Grand Theft Auto IV release and take control of the company before it becomes profitable so they can reap the benefits when it does.
Take-Two believes they are creating stockholder value due to strategies and revitalization plans that have begun to show results.
They were successful in initiating a $25 million cost reduction for their business and expect to be profitable in 2008.
They are, however, still open to discusses option with any company on April 30th, the day after GTA IV releases.
Looks like it's up to the shareholders, but we think they are going to wait until GTA IV releases before they make any moves.