Take-Two Finally Accepts EA Buyout Bid...NOT
Update: As we could've guessed, this is nothing more than another April Fool's prank. We've received word from Take-Two's Corporate Communications Advisor, Ed Nebb, that nothing has changed regarding Take-Two's stance on the matter (at least, not since March 26):
"As some have correctly recognized, the posting about Take-Two accepting the EA offer is not true. Take-Two's last public comment on the matter was a release on March 26 rejecting the offer. While this posting probably was an April Fool's joke, we want to correct any mistaken impressions that readers may have."
They resisted as long as they could, but in the end...money talks.
Electronic Arts has failed twice in their attempt to buy out Take-Two Interactive, publishers of the blockbuster Grand Theft Auto franchise. Take-Two said EA's most recent offer - $26/share - was inadequate in multiple respects, but EA didn't go away. They're back again with another raised offer, and while we don't have the specifics, Take-Two won't be passing this time around. The shareholders have spoken:
"After continued discussion, Take Two have shareholders are of the unanimous decision that a buyout of the company and integration into the Electronic Arts corporation is the best way forward for the company," said Strauss Zelnick, chairman of the Take-Two board. "We are aware of tensions this may cause amongst the loyal fanbase that has supported Grand Theft Auto and our other franchises of the year, but rest assured, there will be very little in the way of changes coming from this merger. Electronic Arts solid business models and high productions values will help us to expand our games and the Grand Theft Auto in exciting new directions, and we hope old and new consumers alike will stand by our future endeavours as we move in exciting new directions."
That says it all right there. And if you were wondering, Take-Two's company name, logos and all their trademarks will remain intact despite the EA buyout. We suppose you could think of it as "business as usual," only with another name adorning future boxes of Take-Two video games.
4/1/2008 Ben Dutka