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...
- UK Crime Agency's Latest Moral Panic: Kids Modding Videogames May Be A Gateway To Becoming Criminal Hackers
- Denuvo Strikes Back: The DRM Has Been Patched And Is Working... For Now
- eSports Gets An Introduction To Major College Sports At The University Of Utah
- Russia Accuses EA Of LGBT Propaganda Over Including Rainbow Shoelaces Soccer Players Wore In Real Life
- Appeals Court Dumps Infringement Lawsuit Against EA After Plaintiff Fails To Produce Evidence