Yet again EA’s deadline for their unsolictied offer to buy Take-Two has passed without Take-Two taking them up on the offer and once again EA has extended said offer without changing it…meaning I am basically writing the same story I wrote before and that Thom wrote before that. Oh, and I also get to present you with basically the same quote as before too.
“The latest extension of EA’s unsolicited, highly conditional tender offer does not alter the fact that their proposal still significantly undervalues Take-Two, a fact that is reflected in the overwhelming number of stockholders who still have not tendered their shares,” said Strauss Zelnick, Chairman of the Board of Take-Two.
“Our Board of Directors remains in unanimous agreement that the proposal is contrary to the best interests of Take-Two stockholders, and the Board continues to recommend that stockholders not tender their shares to EA. The Board remains focused on the strategic process that began formally on April 30 to consider all alternatives to maximize value. We believe that these alternatives, which may include a business combination or remaining independent, will deliver greater value to stockholders than the current EA offer.”
I’m no business type person so I don’t know the inner workings of that whole world but I have been rejected plenty of times by women, bouncers, employers and once by a camel (long story involving spit). Let me tell you, EA, if someone rejects you four times in a row you might want to rethink your approach. This is especially true if said person/company/camel is something you really want and also happens to be in charge of the top selling game of all time. They can just keep on showing you the door forever and then at the next party you’re at they’ll show up with someone else and then you’ll feel stupid and drink too much and make an ass of yourself and everyone will talk about it the day after. I’m just saying.