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 Send to email | Take-Two To EA: No Thanks, Again (TTWO, ERTS) in ERTSTTWO |  By Silicon
el 26-Mar-2008 |  As expected, Take-Two's board has formally rejected Electronic Arts' $2 billion bid, using the same argument it has made in the past: We're worth more. Come back and talk to us after we release our next blockbuster game, when our stock will have shot up well beyond your $26 offer.
Next steps: Some back and forth maneuvering. Take-Two (TTWO) is trying to make it harder for EA (ERTS) to pull off a successful tender offer. Among other moves, it's adopting a "shareholders rights agreement" that creates a class of preferred B shares if EA (or anyone else) buys a 20% stake in the company.
EA could counter by simply raising its bid and making yet another offer, or by calling TTWO's bluff and walking away from the company. TTWO execs have argued that when they release the newest Grand Theft Auto game, at the end of April, investors will suddenly realize that the company has a blockbuster franchise, and bump up TTWO shares accordingly. We continue to be skeptical about that.
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| Does Take-Two Have Other Suitors? (TTWO, ERTS) |  Take-Two (TTWO) predictably rejected Electronic Arts' (ERTS) $25.74 per share bid for the company once again, after EA extended the deadline for the bid, once again. But TTWO chairman Strauss Zelnick's had one interesting nugget in his statement:
[..] Read complete article | | Published 19-May-2008 by Silicon in ERTSTTWO
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| Take-Two To EA: No Thanks, Again (TTWO, ERTS) | | As expected, Take-Two's board has formally rejected Electronic Arts' $2 billion bid, using the same argument it has made in the past: We're worth more. Come back and talk to us after we release our next blockbuster game, when our stock will h [..] Read complete article | | Published 26-Mar-2008 by Silicon in ERTSTTWO
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| Proxy Advisors: Dump Take-Two Board (TTWO, ERTS) | | Take-Two shareholders could go into the meeting on April 17 pretty confused. One proxy advisory service tells them to keep the board and approve a golden parachute payout to ZelnickMedia; another one is saying that the both should be scrapped. At this point we're [..] Read complete article | | Published 01-Apr-2008 by Silicon in General
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