Take-Two rejects EA's offer - Willing to negotiate
- Posted February 24th, 2008 at 23:27 EDT by
- 30 Comments
Recently videogames giant Electronic Arts proposed a $2 billion deal to acquire Take-Two Interactive.
EA’s Chief Executive Officer John Riccitiello explains how the deal could have been beneficial for both EA and Take Two:
"Our all-cash proposal is a unique opportunity for Take-Two shareholders to realize immediate value at a substantial premium, while creating long-term value for EA shareholders. Take-Two's game designers would also benefit from EA's financial resources, stable, game-focused management team, and strong global publishing capabilities."
If it went through, EA would have gained control of yet another bundle of powerhouse studios such as Rockstar Games and 2K Games, both of which run under Take-Two Interactive. To EA’s surprise, Take-Two has rejected the offer detailing that it was just bad timing. This does not mean complete rejection as Take-Two is willing to enter into negotiations once again starting April 30, 2008, the day after Grand Theft Auto IV releases.
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HellsJester
- 6:46pm EST - February 24th, 2008
- 2
QFT
Im at the point where i dont care how cool the game looks if EA is attached to it i just drop my interest and dont get it.
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AclayPS3
- 7:58pm EST - February 24th, 2008
- 6
The only game developed by EA that I've even liked is the Burnout series. EA Games wants to own the whole gaming industry or something. The only game that I even own that is either published or developed by EA Games is Burnout 3 and Need for Speed Underground. I'm not a fan of EA Games, but they just haven't proven themseleves to me when it comes to certain games other than some of their racing games. From what I've heard, Need For Speed Pro Street pretty much sucked.
I hope that EA Games can redeem themseleves to me with Dead Space later on this year. When it was announced that this game was going to be published by EA Games, I didn't even care about the game, but when I read more about it, I got hooked.
I hope that smaller game studios that develop for the Playstation such as Insomniac stay Independent.
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InfernoReaper
- 8:00pm EST - February 24th, 2008
- 7
"Take-Two's game designers would also benefit from EA's financial resources..."
THAT would be going out the window with the $2 billion buy-out.
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Guess EA wasn't sitting well with having Activision/Blizzard being bigger than them. At least the GTA franchise won't be driven into the ground for a little while.
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vipergts2207
- 8:02pm EST - February 24th, 2008
- 8
Sounds like they also want a quick buck for nothing, you know, rake in some profits on GTA4, to which EA contributed absolutely nothing. GTA will be ruined by EA because a new one will come out every year. As we all know, it takes lots of time to make a good GTA, not 1 year.
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tab
- 11:10pm EST - February 24th, 2008
- 12
"Link64 -
i smell EA game console..lol just kidding."
I don't know, if you think about it EA has always felt that there should only be one game console.
If they where to buy all the major developers for the next few years and then said "hey were making our own game console and all these games are exclusive."
Just think of what that could do. If a big enough chunk of the world's devs suddenly ended up exclusive to one console then they could really change things.
Just thinking that this could happen in the future kinda pisses me off. -
chilledbreeze7
- 11:24pm EST - February 24th, 2008
- 13
EA is fast becoming the new Microsoft, a hugh Laviathon of a company swallowing up all smaller creative independant companies, not good!
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princevegeta1980
- 12:59am EST - February 25th, 2008
- 16
@tab, i truely hope it never comes to this, if all major dev's became EA dev's than futur games are gonna §uçk big time, but i think companys like square and konami are too important to be brought by EA for this to happen. Sadly @IONIXX, since gta4 has gon multi, even if EA doesn't buy out take-two, i don't think there will ever be a gta exclusive playstation. sniff!!!!
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