Hephaestos said:
that is actually old news...
Date Filed: March 13, 2008
This offer expires on April 18th, the 17th being Take 2's board meeting (election of new directors favorable to EA could mean the deal goes through).
Take 2 said that 26 is undervaluing their company and took the step of creating a poison pill should EA start buying above 20%something stocks.
Take 2 is saying that they are undervalued at $26 because GTA will boost profits. They might consider an offer after GTA is out.
The stock is at $25.39, so if you think this will go through at $26 you have like a 2.4% gain to make here =) that or T2 is right and the stock goes up to above 26 after GTA... or even this is all bull from T2, they wanna stay independent and the stock drops :p |
The stock was at $16 before EA made their $26 offer known. The only reason why the stock is so near $26 is that there are speculators willing to bet that the transaction will happen at that price, or slightly above (if EA is willing to pay a few more dollars per share). The two biggest T2 shareholders have dumped a big percentage of their stocks to those speculators. That is good news for EA, since it means that they're only fighting against people interested in short-term profits, not in T2's long-term strategy.
The way I see it, those big T2 shareholders dumped their stock because they know that T2 is almost like a one-trick pony. The GTA franchise rakes in a lot of money, and the rest of the stuff doesn't do much for their value. The legal scandals don't make the stock any more attractive either, so I guess they were happy to dump those problems on EA and collect profit from the speculators instead.
