Electronic Arts has extended its offer to buy Take Two for the third time. The prior bid expired on , May 16th,but this offer gives Take Two until June 16th to negotiate a deal.
Surprisingly, EA has not raised its bid. "EA's offer price remains unchanged at $25.74 per share," EA VP of corporate development Owen Mahoney said in a statement. "Our offer is still subject to conditions that include regulatory approval. As stated earlier, we retain the right to terminate the offer if the conditions are not satisfied."
Take Two's president Strauss Zelnick responded:
"This is the same highly conditional proposal that EA offered Take-Two stockholders on March 13, 2008, which our board of directors thoroughly reviewed and unanimously determined to be inadequate and contrary to the best interests of Take-Two's stockholders...As such, the recommendation of our board of directors that stockholders not tender their shares to EA remains unchanged."
Ben Feder, Take-Two's Chief Executive Officer, added, "EA's highly conditional offer fails to compensate our stockholders for our exceptional portfolio of intellectual property, world-class creative resources, and our successful revitalization initiatives."
As of Friday night, 8% of Take Two shares have been tendered in the offer.
Comment(s)
HEY EA!!! Take that money and send your programmers to school!
Its not the programmers fault, its the retard executives who have the final say in what content the games have
So the programmers wait until the "retard executives" tell they to make the game playable? Ok, no doubt the Project Manager has a big part to play, but come on?
Graphics are graphics. No game looks like Pacman these days so forget that. But if programmers don't know how to make a game playable or even how to create an open world game at all I say some education is needed. Think about it. Why buy 2K Sports of R* if you can create your own IPs?
Easy. The programmers lack the skills to create these games.