Take-Two Refuses EA Yet Again
EA keeps coming forward with weapons bared, but Take-Two continues to parry like there's no tomorrow.
Take-Two Interactive has shot down the latest buyout attempt by Electronic Arts "in light of the unsatisfactory number of company shares that were tendered by the previous deadline." That's five times EA has tried, and five times they have failed. Take-Two chairman Strauss Zelnick added that the company's board is committed to "maintaining its stockholder value," and they're still issuing the same advice to all current stockholders: don't give in to EA's offer, as tempting as it may seem to some.
"We are fully engaged in a formal process to evaluate strategic alternatives that have the potential to deliver greater value than EA's inadequate offer," said Zelnick.
Grand Theft Auto IV has really caused some major fireworks for Take-Two - which, of course, is the reason EA wants them so bad - but they're not about to fold just yet. The latest report by GamesIndustry.biz says that EA's current bid is set to expire by August 18, but if you want to stay updated, Take-Two has you covered. Will Take-Two eventually cave to EA's efforts? How much longer will it take...? The saga continues.
7/23/2008 Ben Dutka