- Oct 18, 2006
- 975
- 10
yah the offer was rejected
EA Proposes to Acquire Take-Two Interactive Software
- Thread in 'General' Thread starter Started by DCAllAfrican,
- Start date
- May 4, 2006
- 3,831
- 59
i will be so mad if EA takes over take two one day
- Nov 10, 2007
- 9,134
- 1,012
I dont know how anyone can support a company like this
* 1991: Distinctive Software (now EA Canada); purchased for $11 million
* 1992: Origin Systems (now defunct)
* January 1995: Bullfrog Productions (now defunct)
* 1996: Manley & Associates (became EA Seattle, now defunct)
* July 1997: Maxis (folded into EA Redwood Shores)
* 1998: Tiburon Entertainment (now EA Tiburon)
* August 1998: Westwood Studios (now defunct); purchased for $122.5 million
* November 1999: Kesmai (now defunct)
* February 2000: DreamWorks Interactive (now EA Los Angeles)
* June 2002: Black Box Games (now EA Black Box/EA Canada)
* October 2003: Studio 33 (now EA North West)
* February 2004: NuFx
* August 2004: Criterion Software; purchased for a rumored 40 million pounds ($79 million)
* July 2005: Hypnotix (now part of EA Tiburon)
* December 2005: JAMDAT Mobile (now EA mobile); purchased for $680 million
* June 2006: Mythic Entertainment (now EA Mythic)
* August 2006: Phenomic (now EA Phenomic)
* October 2006: Digital Illusions CE; approx. $24 million
* November 2006: Headgate Studios (now EA Salt Lake)
* January 2008: BioWare Corp./Pandemic Studios; purchased for $620 million
all u have to do is look at madden and live to see whats going on - dont get me wrong, they do have innovative games in burnout and skate but its only causethose games have competition
* 1991: Distinctive Software (now EA Canada); purchased for $11 million
* 1992: Origin Systems (now defunct)
* January 1995: Bullfrog Productions (now defunct)
* 1996: Manley & Associates (became EA Seattle, now defunct)
* July 1997: Maxis (folded into EA Redwood Shores)
* 1998: Tiburon Entertainment (now EA Tiburon)
* August 1998: Westwood Studios (now defunct); purchased for $122.5 million
* November 1999: Kesmai (now defunct)
* February 2000: DreamWorks Interactive (now EA Los Angeles)
* June 2002: Black Box Games (now EA Black Box/EA Canada)
* October 2003: Studio 33 (now EA North West)
* February 2004: NuFx
* August 2004: Criterion Software; purchased for a rumored 40 million pounds ($79 million)
* July 2005: Hypnotix (now part of EA Tiburon)
* December 2005: JAMDAT Mobile (now EA mobile); purchased for $680 million
* June 2006: Mythic Entertainment (now EA Mythic)
* August 2006: Phenomic (now EA Phenomic)
* October 2006: Digital Illusions CE; approx. $24 million
* November 2006: Headgate Studios (now EA Salt Lake)
* January 2008: BioWare Corp./Pandemic Studios; purchased for $620 million
all u have to do is look at madden and live to see whats going on - dont get me wrong, they do have innovative games in burnout and skate but its only causethose games have competition
- Nov 22, 2007
- 4,756
- 12
I seriously hate EA and their trashy games... Sans Rock Band...
- Apr 2, 2005
- 1,945
- 10
no goood.
- May 25, 2003
- 6,823
- 10
I just want MVP Baseball BACK!!
- Jul 5, 2007
- 1,102
- 388
thats wut i was thinking and the way ea is right now they would probably mess up grand theft auto and all of the sports franchises would just be mediocrebecause they would have no competition like madden
the hater boxden
Banned
- Aug 25, 2007
- 8,339
- 1,382
just to let you guys know...take two rejected EAs offer...
February 22, 2008
Mr. John S. Riccitiello
Chief Executive Officer
Electronic Arts Inc.
209 Redwood Shores Parkway
Redwood City, CA 94065
Dear John:
Thank you for your letter of February 19, 2008. As you know, the Board of Directors (the "Board") of Take-Two Interactive Software, Inc.("Take-Two" or the "Company") carefully considered Electronic Arts Inc.'s ("EA's") previous offer of $25 per share andconcluded that neither the timing of the proposed acquisition nor the price was consistent with the Board's objective of maximizing stockholder value. TheBoard's rationale for rejecting EA's prior offer is not altered by your decision to increase that offer by four percent.
I would like to reiterate, in the clearest possible terms, the Board's conviction that this is not the right time for Take-Two to enter into a negotiationto sell the Company. Our organization is keenly focused on the scheduled April 29th launch of Grand Theft Auto IV, and on maximizing the value of the game tothe Company and, in turn, our stockholders. It is the Board's strongly held view that beginning strategic discussions now would distract our Company andthereby threaten the value of this key franchise.
While I understand that you may disagree with the Board's reluctance to commence discussions immediately, the Board and I want to assure you that ourconcerns about timing are genuine. Potential negative financial consequences to Take-Two are significant and we believe outweigh the benefits of commencingdiscussions at this time. As you know, there is no certainty that EA will actually close on the proposed transaction on mutually agreeable terms, especiallysince you have proposed a price that we would not accept and have qualified your offer by a diligence request. Moreover, as we have all seen time and again,the process surrounding acquiring a public company from start to finish is complex, uncertain, intrusive and distracting, and we believe it would be especiallyso to the creative artists at the core of our business and to all those who may be displaced by a transaction.
While the Board is convinced that discussions at this time would be imprudent, we also appreciate the potential benefit of a frank and private dialogue withEA. To that end, the Board would be willing to commit to entering into a good-faith discussion with EA on April 30, 2008 to determine if we can reach commonground on the proper value of the Company and therefore an appropriate, mutually beneficial transaction. This would, of course, be subject to both partiesreaching a mutually acceptable confidentiality agreement on customary terms. We are prepared to begin negotiating this confidentiality agreement immediately.
In order to alleviate any concerns you may have about the proposed starting date for these discussions, I would be pleased to meet with you privately as soonas possible to talk on a general basis. In addition our Board would confirm, subject to its fiduciary duties, that from now until April 30, 2008 (the"Quiet Period"), the Company will not pursue negotiations with any other potential strategic partner for a business combination unless we have firstcontacted you. Further, if the Company receives any bona fide offer to acquire the Company during the Quiet Period that the Board decides to explore, theCompany will immediately inform EA and we understand that EA may then act as it sees fit.
I would like to note that if EA chooses to announce publicly the Board's proposal or announce any offer by EA to acquire the Company during this QuietPeriod or if the contents of this letter become publicly available in sum and substance, the Company will consider all of its alternatives, includingdiscussions with other parties, and further we will reserve the right to refuse to provide EA access to information or diligence.
John, I believe I know you well enough to rely on your considering this proposal in the same good faith we have in making it. I look forward to your favorableresponse.
Sincerely,
Strauss Zelnick
Executive Chairman of the Board
February 22, 2008
Mr. John S. Riccitiello
Chief Executive Officer
Electronic Arts Inc.
209 Redwood Shores Parkway
Redwood City, CA 94065
Dear John:
Thank you for your letter of February 19, 2008. As you know, the Board of Directors (the "Board") of Take-Two Interactive Software, Inc.("Take-Two" or the "Company") carefully considered Electronic Arts Inc.'s ("EA's") previous offer of $25 per share andconcluded that neither the timing of the proposed acquisition nor the price was consistent with the Board's objective of maximizing stockholder value. TheBoard's rationale for rejecting EA's prior offer is not altered by your decision to increase that offer by four percent.
I would like to reiterate, in the clearest possible terms, the Board's conviction that this is not the right time for Take-Two to enter into a negotiationto sell the Company. Our organization is keenly focused on the scheduled April 29th launch of Grand Theft Auto IV, and on maximizing the value of the game tothe Company and, in turn, our stockholders. It is the Board's strongly held view that beginning strategic discussions now would distract our Company andthereby threaten the value of this key franchise.
While I understand that you may disagree with the Board's reluctance to commence discussions immediately, the Board and I want to assure you that ourconcerns about timing are genuine. Potential negative financial consequences to Take-Two are significant and we believe outweigh the benefits of commencingdiscussions at this time. As you know, there is no certainty that EA will actually close on the proposed transaction on mutually agreeable terms, especiallysince you have proposed a price that we would not accept and have qualified your offer by a diligence request. Moreover, as we have all seen time and again,the process surrounding acquiring a public company from start to finish is complex, uncertain, intrusive and distracting, and we believe it would be especiallyso to the creative artists at the core of our business and to all those who may be displaced by a transaction.
While the Board is convinced that discussions at this time would be imprudent, we also appreciate the potential benefit of a frank and private dialogue withEA. To that end, the Board would be willing to commit to entering into a good-faith discussion with EA on April 30, 2008 to determine if we can reach commonground on the proper value of the Company and therefore an appropriate, mutually beneficial transaction. This would, of course, be subject to both partiesreaching a mutually acceptable confidentiality agreement on customary terms. We are prepared to begin negotiating this confidentiality agreement immediately.
In order to alleviate any concerns you may have about the proposed starting date for these discussions, I would be pleased to meet with you privately as soonas possible to talk on a general basis. In addition our Board would confirm, subject to its fiduciary duties, that from now until April 30, 2008 (the"Quiet Period"), the Company will not pursue negotiations with any other potential strategic partner for a business combination unless we have firstcontacted you. Further, if the Company receives any bona fide offer to acquire the Company during the Quiet Period that the Board decides to explore, theCompany will immediately inform EA and we understand that EA may then act as it sees fit.
I would like to note that if EA chooses to announce publicly the Board's proposal or announce any offer by EA to acquire the Company during this QuietPeriod or if the contents of this letter become publicly available in sum and substance, the Company will consider all of its alternatives, includingdiscussions with other parties, and further we will reserve the right to refuse to provide EA access to information or diligence.
John, I believe I know you well enough to rely on your considering this proposal in the same good faith we have in making it. I look forward to your favorableresponse.
Sincerely,
Strauss Zelnick
Executive Chairman of the Board
hola brooklyn
Banned
- Oct 29, 2007
- 65
- 10
yay
