by Mike Masnick
Mon, Feb 25th 2008 4:01am
It really was only a matter of time after the announced ActiBlizsion merger that someone was going to make a bid for Take Two Interactive, makers of the super popular (if controversial) Grand Theft Auto series of video games. Given Activision and Blizzard are focusing on their own merger, it probably makes sense that industry leader EA has stepped up to make the Take Two bid. EA apparently tried to get Take Two's board to agree to a deal, but when it turned EA's offer down (at a rather large premium), EA decided to go directly to the shareholders in a hostile bid. Take Two claims that the current offer undervalues the company (despite being a 64% premium on the stock price) because it expects the company's stock to rise after it releases the next edition of GTA in the spring. Of course, aren't stock prices supposed to reflect that kind of thing already?
If you liked this post, you may also be interested in...
- Free Speech Champions File Amicus Brief In Hopes Of Getting Terrible 'Publicity Rights' Decision Re-Examined
- More Violent Video Game Research Says Real World Violence Link Is Crap
- Video Game Maker Sued By Lawyer/Necromancer For Featuring General Patton In-Game
- Copyright Law Is Eating Away At Our Cultural History: And It's Time To Fix That
- EA's Latest Attempt To Destroy SimCity Franchise: Micropayments For Hammers And Nails And Supplies