EA is learning the hard way that aquring Take-Two is like nailing jelly to a wall. EA has yet again extended its offer for Take-Two, this time till the 16th of May but for the lower price of USD 25.74 per share.
Is that the sound of a million GTA IV fans breathing a huge sigh of releif? The new date means EA wont be able to have any influence on the release of the game. It feared they may have had reason to delay the game had they aquired the company before the 29th of April.
EA commented, “[We] believe that the offer price is full and fair, and that a transaction between Take-Two and EA is the most compelling combination financially, strategically and operationally for all parties.”
That’s all fine and dandy, but no sooner was the offer made than Take-Two shook it off like a wet dog.
Chairman of Take-Two, Strauss Zelnick commented, “The minuscule number of shares tendered, as well as the strong vote in favour of the proposals presented at our annual meeting, offer indisputable evidence that our stockholders regard our efforts to enhance Take-Two’s stockholder value as superior to the EA offer,”
“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.”
Take-Two has said before that may be willing to open up discussions with EA and other third parties, but only after the release of Grand Theft Auto IV. Whether thats because Take-Two doesn’t want to disrupt consumers with another delay or whether they want to milk the game for all its worth so they can up the value of the company remains to be seen. Regardless of their intentions, this is definatly good news for gamers in the short term. Although, in the long term alot of fans may hope that Take-Two remains the one that got away.