EA abandons Take-Two takeover idea News

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News by Ellie Gibson

15 September, 2008

More than seven months after the whole business began, Electronic Arts has announced it's no longer interested in acquiring Take-Two.

Apparently the decision was made following a presentation by Take-Two's management team. Perhaps they forgot to polish their shoes.

In a statement, EA said it still has "a high regard" for the other company's creative teams and products. However, "after careful consideration, including a management presentation and review of other due diligence materials... EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two".

Take-Two has yet to issue a comment, but the company probably isn't too pleased its share price has just dropped to USD 21.89 - lower than EA's original offer of USD 25.

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Xerx3s

15/09/08 @ 07:50

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No, we are not after GTA at all.

michaelius

15/09/08 @ 07:51

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Cool now they can concetrate on putting more bullshit copy protection in future games.

bad09

15/09/08 @ 07:55

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I know EA are having a storming year with great titles but I can't help but feel happy about this.

Strange they change their mind after GTA4 is done, will they try again just before the next GTA I wonder?

Eraysor

15/09/08 @ 08:14

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Next year - Activision buys Take Two.

I personally think Acti have taken over from EA as the worst games company now.

JonFE

15/09/08 @ 08:16

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Strange... Isn't GTA IV coming out this November on the PC? I'd have thought that EA would try to acquire T2 even now, just to make a quick return on the PC release and capitalize on the up-coming DLC... Are they trying to lower the price?

mkreku

15/09/08 @ 08:48

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Yay!

Triggerhappytel

15/09/08 @ 08:57

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Good news. Monopolies in any business segment are bad.

PearOfAnguish

15/09/08 @ 09:22

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Seems a bit odd. Perhaps they've seen financial info and are waiting for the company to go under so they can pick it up at a knock-down price.

Orange

15/09/08 @ 11:54

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Agreed that Activision are the new evil, at least EA is pretending to be good now. Acti are just shite.

link'sdad

15/09/08 @ 11:56

#10

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They realised that last implementation of the GTA IP wasnt that great and future versions will probably never have the same anticipation surrounding them as a result.

Oh-Bollox

15/09/08 @ 12:48

#11

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Well done for holding out, Take Two.

penhalion

15/09/08 @ 12:55

#12

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Possibly because Take 2 are unsustainable without GTA. They litterally have nothing else of note. If GTA 5 were to fail (and believe me, after GTA 4, I'm not buying another one any time soon). then take 2 goes under or at the very least is badly compromised.

Not a good way to run a company i.e. relying on a single franchise.

SEVQA

15/09/08 @ 15:36

#13

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Yeah!!! Evil Aliens will not take over the industry!

EzyRyder

16/09/08 @ 11:06

#14

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Take 2 is going to have serious problems. Their shares have gone down to the usually $15 (as it was before February this year). I reckon it is going to be bought out at a bargain price ... and probably by EA.

actionfitz

16/09/08 @ 15:09

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next up:
Acti-Blizz use a Securom variant to secure WoW.
the games industry implodes as 9 million uber geeks and computer savvy nerds cancel their wow subs.
then hell freezes over.
true story.

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