| FishyJoe said: Pretty predictable, but the offer was rejected. This was no way they were going to take that kind of offer so close to one of their biggest product launches. http://newsticker.welt.de/index.php?channel=fin&module=smarthouse&id=681493 |
Mr. Zelnick added, "While the Board believes that entering into discussions with EA at this time is not in the best interests of shareholders, we had offered to enter into a good-faith dialogue with EA to determine if our companies can reach common ground on the appropriate value of Take-Two as a first step to realizing a mutually beneficially transaction. However, given the great importance of the Grand Theft Auto IV launch to the value of Take-Two, the Board has determined that the only prudent and responsible course for our Company and its stockholders is to defer these discussions until immediately after Grand Theft Auto IV is released. Therefore, we offered to initiate discussions with EA on April 30th, 2008 (the day after Grand Theft Auto IV is scheduled to release). We believe this offer demonstrated our commitment to pursuing all avenues to maximize stockholder value, while we believe that EA’s refusal to entertain this path is evidence of their desire to acquire Take-Two at a significant discount, whereas we believe this value rightly belongs to our stockholders.”
“In the entertainment business, there are only heaven and hell, and nothing in between and as soon as our customers bore of our products, we will crash.” Hiroshi Yamauchi
TAG: Like a Yamauchi pimp slap delivered by Il Maelstrom; serving it up with style.
