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Read the full press release here.

Quote:
"Aug. 18, 2008--Electronic Arts Inc. ("EA") (NASDAQ:ERTS) today issued an update on its offer to acquire Take-Two Interactive Software Inc. ("Take-Two") (NASDAQ:TTWO).

On Friday August 15, John Riccitiello, Chief Executive Officer of EA, called Strauss Zelnick, Executive Chairman of the Board of Directors of Take-Two, to discuss EA's offer to acquire Take-Two. Following discussions over the weekend between EA and Take-Two, EA accepted Take-Two's offer to provide a management presentation to EA containing non-public information. The letters between the parties are set forth below.

EA also announced that it will allow its tender offer for all of the currently outstanding shares of common stock (including the associated preferred stock purchase rights) of Take-Two to expire on Monday, August 18, 2008 at 11:59 p.m., New York City time."

Member Comments
# 1 jwilson3rd @ 08/18/08 11:03 AM
EA should go sit there behinds down somewhere,and leave take-two alone.
 
# 2 bluengold34_OS @ 08/18/08 11:24 AM
While I would hate to lose 2k basketball and hockey, I would love to see MVP re-born again. I just don't think it's worth losing 2k just to have MVP back though.
 
# 3 bkfount @ 08/18/08 11:52 AM
Quote:
Originally Posted by jwilson3rd
EA should go sit there behinds down somewhere,and leave take-two alone.
like people have been saying for months, Take Two doesn't want EA to leave them alone. They just want more money.

http://www.alleyinsider.com/2008/8/t...doing-anything

With EA letting their offer finally expire, Take Two actually wants to go give EA management a presentation about how valuable their company is.
 
# 4 savoie2006 @ 08/18/08 12:22 PM
Amazing that people just can't figure this out.Calling EA evil and a bully,yet Take Two is more than willing to hammer out a deal with at the RIGHT price as apparent by this update.
 
# 5 wishcoats @ 08/18/08 12:30 PM
If 2k is bought out and their sports franchises die, we will ALL SUFFER. Aso savoie I am not of the mindset that 2k is somehow always right and holy. THEY ARE ALL BUSINESS MEN. If it is a really good deal then I would not be surprsied if they take it. You act like the board of directors at take 2 actually plays sports games. lol They don't.
 
# 6 bluengold34_OS @ 08/18/08 12:35 PM
Quote:
Originally Posted by savoie2006
Amazing that people just can't figure this out.Calling EA evil and a bully,yet Take Two is more than willing to hammer out a deal with at the RIGHT price as apparent by this update.

The truth.......it's amazing how blind people are too this fact.
 
# 7 spit_bubble @ 08/18/08 12:55 PM
I said it many months ago, if EA does buy TTWO it very well could do wonders for sports gaming because it potentially consolidates the best developing talent... And trims the fat, so to speak.

However... It could also be disastrous, if EA takes the ship in the wrong direction... Understaffing developing teams, ignoring their solid foundation of sports fans who buy their games year after year, and over concerning themselves with short term stock price instead of looking at things in the long term...

My guess is it'll be more the latter than the former, unfortunately.
 
# 8 amedawg00 @ 08/18/08 10:14 PM
Although economically unfeasible, wouldnt it be amazing if EA allowed a newly absorbed Visual Concepts development team to compete against tiburon, and the other EA developers, allowing them both to make games, with VC catering towards the more sim hardcore sports fanatics, while EA continuing to cater to the more casual arcade sports gamer. If they both sell well, then I dont see why it wouldnt behoove them to atleast try that option for a couple years and see where the chips may fall.
 
# 9 spit_bubble @ 08/19/08 03:59 AM
Quote:
Originally Posted by kcxiv
So, they are going to tell EA that they are more valueable then what EA beleives. EA isnt going to give them more and TT wants to sell for more. If both parties hold firm, then nothing will happen.

This has been like this for months. Either company is budging, why would take to try to kiss butt when they could have accepted the current offer?

Maybe i am missing something here. I do know just about everything has a price though
Maybe there's another party involved, and they've already bid higher than ERTS???

In the letter from Zelnick regarding the confidentiality agreement it says:

"I can assure you that this requirement is the same as or more favorable to EA than that which we have employed with all other participants in the process."

Though I think it's more likely that they (ERTS and TTWO) are simply that much closer to a deal... With TTWO saying, "Your bid is a little low, let us show you why," and ERTS thinking, "Okay, let's just deal with them directly and maybe we can get a deal done at slightly above the price we offered to their stockholders."
 
# 10 tabulaRasa @ 08/19/08 04:22 AM
Sad to see, mostly for the sport division, I hope they atleast keep the NBA2k series instead of EAs mediocre at best NBA live series.

Hopefully UBI Soft or ActivisionBlizzard create sport divisions. I hate to be stuck with no competetion in the NHL, NBA sports. Itīs proven that EA canīt perform good without competetion.
 
# 11 Knight165 @ 08/19/08 10:06 AM
Quote:
Originally Posted by bluengold34
The truth.......it's amazing how blind people are too this fact.
I'm sorry....but you're going to have to explain to me what one has to do with the other.....I must be blind.
Please be precise.....I'm a little slow when it comes to this stuff.
Thank you.

My slow take on it is that EA is looking to gobble up competition. If you don't see that....I don't know what to say....
But what the heck does that have to do with Take Two trying to get the best deal possible from a company willing and trying to buy them out? They've never said...."we hate EA and all it stands for and we're going to hold the torch for all that is against them".....what they HAVE said...is that EA's offer was too low....try again....so I'm sorry if I just don't see the connection from thinking EA is just a big slobbering giant and TT looking for a better deal.
They've told their shareholders to hold on...why?...because the love them?...of course not...it's because they still hold the lion's share of the shares and want the best price they can get...
and before someone links me to a statement from TT that DOES say they don't want to be bought out....PLEASE.....it's just posturing and you and I and everyone else knows it.

M.K.
Knight165
 
# 12 bluengold34_OS @ 08/19/08 11:39 AM
Quote:
Originally Posted by Knight165
I'm sorry....but you're going to have to explain to me what one has to do with the other.....I must be blind.
Please be precise.....I'm a little slow when it comes to this stuff.
Thank you.

My slow take on it is that EA is looking to gobble up competition. If you don't see that....I don't know what to say....
But what the heck does that have to do with Take Two trying to get the best deal possible from a company willing and trying to buy them out? They've never said...."we hate EA and all it stands for and we're going to hold the torch for all that is against them".....what they HAVE said...is that EA's offer was too low....try again....so I'm sorry if I just don't see the connection from thinking EA is just a big slobbering giant and TT looking for a better deal.
They've told their shareholders to hold on...why?...because the love them?...of course not...it's because they still hold the lion's share of the shares and want the best price they can get...
and before someone links me to a statement from TT that DOES say they don't want to be bought out....PLEASE.....it's just posturing and you and I and everyone else knows it.

M.K.
Knight165


Im not going to link you to anything, and I respect your opinion on the situation also. I can only go by all that I have read and been privy to. I am not sitting in the board room, or on the board of directors either.

It just seems like TT has no direction, nor do they seem like they are trying to correct the direction they are going. The sports products they do seem to have the right to make ( Hockey, Basketball, Baseball ) they seem to do very little to. I love NBA 2k as much as the next guy, and this years seems like a nice improvement over an already stellar 08 game. The baseball franchise has been sucking up resources and providing limited returns, they discontinued their NCAA BB game(which was stellar also). Their hockey game, although fun, based off of last years product has fallen behind EA's product. APF ( which was a great game ) was half the game it could have been, if they would have included a franchise and unlimited editing, who knows where that game could have gone.

Does this sound like a company who is fighting for their lives Knight. It sounds like a company who has just given up and is accepting the inevitable. If I was in their shoes I would give up the damn Baseball license( sell/transfer to highest company bid ) Put all my resources into NBA 2k, revive the NCAA game, and put more effort into a sequel of APF, with all that it's fans wanted in the first place. The GTA franchise is great, but thats not a yearly return factor figured into their fiscal bottom line

You even said it yourself, they are not holding out, becuase they love their fans and employees, they are holding out for more money so they can jump off this sinking ship. It's not like the company is doing awesome and EA walked in to do a hostile takeover...................EA is taking advantage of their mis-allocation of funds, blind direction and sub par products and Marketing( or lack there of ).

This happens all the time in business, why does it make EA a bully. They are doing what myself, and most people would do. If people want to be pissed off at someone how about being pissed off at this company's blind direction it has choosen for years.

I am a fan of great games, not corporations. If I had to start a business, I sure in the hell wouldn't go the direction TT has for the last 3 or 4 years.


So I pose this question to you Knight, where does this make EA the bully?. Was Nestle a bully when they bought out Lean Cuisine/Stouffers and made them profitable, is JC Flowers a Bully for taking over Salle Mae.......

lets put blame where blame falls.....squarley on TT's shoulders, please for once. EA is just taking advantage, and they would be stupid not to do so.
 
# 13 Knight165 @ 08/19/08 11:49 AM
Quote:
Originally Posted by bluengold34
Im not going to link you to anything, and I respect your opinion on the siutation also. I can only go by all that I have read and been privy to. I am not sitting in the board room, or on the board of directors either.

It just seems like TT has no direction, nor do they seem like they are trying to correct the direction they are going. The sports products they do seem to have the right to make ( Hockey, Basketball, Baseball ) they seem to do very little to. I love NBA 2k as much as the next guy, and this years seems like a nice improvement over an already stellar 08 game. The baseball franchise has been sucking up resources and providing limited returns, they discontinued their NCAA BB game(which was stellar also). Their hockey game, although fun, based off of last years product has fallen behind EA's product. APF ( which was a great game ) was half the game it could have been, if they would have included a franchise and unlimited editing, who knows where that game could have gone.

Does this sound like a company who is fighting for their lives Knight. It sounds like a company who has just given up and is accepting the inevitable. If I was in their shoes I would give up the damn Baseball license( sell/transfer to highest company bid ) Put all my resources into NBA 2k, revive the NCAA game, and put more effort into a sequel of APF, with all that it's fans wanted in the first place. The GTA franchise is great, but thats not a yearly return factor figured into their fiscal bottom line

You even said it yourself, they are not holding out, becuase they love their fans and employees, they are holding out for more money so they can jump off this sinking ship. It's not like the company is doing awesome and EA walked in to do a hostile takeover...................EA is taking advantage of their mis-allocation of funds, blind direction and sub par products and Marketing( or lack there of ).

This happens all the time in business, why does it make EA a bully. They are doing what myself, and most people would do. If people want to be pissed off at someone how about being pissed off at this company's blind direction it has choosen for years.

I am a fan of great games, not corporations. If I had to start a business, I sure in the hell wouldn't go the direction TT has for the last 3 or 4 years.
I know...I'm being a bit of a dick...sorry....I actually meant to quote savoie...but you basically agreed so I guess it's the same.
What I was trying to get at was....and for some reason savoie has been taking to being a "defender" of EA(not that they need a defender...they are really not doing anything wrong!)....I just don't get how he's alluding that somehow TT is culpable in some sort of greedy way....they simply want more money for their company than EA is willing to fork over....and I think they've made that clear.
Anyway....sorry for the kind of snide reply....it was unnecessary....just been one of those days.

M.K.
Knight165
 
# 14 Knight165 @ 08/19/08 11:54 AM
One thing I will give you in this whole deal....TT thought that they could put EA "over the barrel" by holding out before the release of GTA....it worked to a point...but not as far as they would have liked I suppose and now they are feeling the heat a little I think.......asking shareholders to hold on(and this is where they are a little devious).
You are right.....they do seem a little out of sorts now that their blockbuster has shipped and EA didn't buckle to their liking.
To be honest....if I had stock in TT.....I would have sold it off already.

M.K.
Knight165
 
# 15 mercalnd @ 08/19/08 11:58 AM
Quote:
Originally Posted by Knight165
What I was trying to get at was....and for some reason savoie has been taking to being a "defender" of EA(not that they need a defender...they are really not doing anything wrong!)....I just don't get how he's alluding that somehow TT is culpable in some sort of greedy way....they simply want more money for their company than EA is willing to fork over....and I think they've made that clear.
I think savoie was not so much looking to defend EA as much as establishing that TT actually wants to sell to EA. As you said, it's all posturing but in every thread about this some posters say that TT doesn't want to sell but EA won't leave them alone, as if EA is just a big bully and TT is some poor victim. EA may be a bully, but TT is a willing participant in this seemingly undending story.
 
# 16 bluengold34_OS @ 08/19/08 12:00 PM
Quote:
Originally Posted by Knight165
I know...I'm being a bit of a dick...sorry....I actually meant to quote savoie...but you basically agreed so I guess it's the same.
What I was trying to get at was....and for some reason savoie has been taking to being a "defender" of EA(not that they need a defender...they are really not doing anything wrong!)....I just don't get how he's alluding that somehow TT is culpable in some sort of greedy way....they simply want more money for their company than EA is willing to fork over....and I think they've made that clear.
Anyway....sorry for the kind of snide reply....it was unnecessary....just been one of those days.

M.K.
Knight165
It's cool Knight, no problem. Trust me, I would love for EA to have competition, but that requires 1 thing......another company to step up and do so. Oh how I wish TT could have been that company, but I guess it's not easy going up against the Evil Empire
 
# 17 Starbase503 @ 08/19/08 03:46 PM
Evil Empire indeed...I think a lot of gamers have been rooting for little Take 2 to bring down the Goliath of sports games, but it just ain't gonna happen. And it has nothing to do with EA being the biggest baddest dude on the block, and TT being the underdog. I think the EA bashers have grown tired of EA's response to competition. Has it been to work harder on their products to make them better than the others' offerings? Hell no, their response has been to throw tons of money out there to ELIMINATE the competitors. And it didn't start with football, either.

I remember a couple of wonderful NASCAR games out there, most notably NASCAR Racing by Papyrus, who was forced to close their doors in 2004 after EA bought up exclusive rights to NASCAR.

EA tried the same tactic with soccer, and its FIFA series has gained ground on Konami's Winning Eleven largely through its incredible breadth of fully licensed teams, appealing to the less hardcore "futbol" fans who embraced WE's equally amazing depth.

Of course, the NFL is the Holy Grail of sports games, so it was a much publicized (and villfied) announcement when EA landed exclusive rights to that league, on the heels of Madden's significant market share loss to NFL 2k5, and the immediate death of what is arguably the best footbal sim ever made. (Okay, not so immediate, thanks to Flying Finn and countless others, who kept the game current with rosters and roster editors.)

I think Take Two's MLB license exclusive was a knee-jerk response ("Hah, two can play at that game"), and once again, the gamers lost out, as I thought MVP was probably EA's strongest horse in its corral.

Don't get me wrong; I am NOT an EA *****, although I have been at these particular times, when their own bottom line is their ONLY concern and its customer base is nowhere in their equation. I loved MVP, and I have played their college football game since '97. After my 2k5 franchise would go no further (on PS2, with its nasty limitations), I finally caved and bought Madden '09, my first Madden since '02. I hated the '02 game; so dull and uninspring, it failed in every way to draw me in like the college game would. But the '09 game on PS3 looks good, and it's actually pretty fun to play. Granted, the presentation doesn't even come CLOSE to 2k5's, and I think EA needs to fully use that ESPN contract they bought.
 
# 18 Knight165 @ 08/19/08 08:55 PM
Quote:
Originally Posted by bluengold34
It's cool Knight, no problem. Trust me, I would love for EA to have competition, but that requires 1 thing......another company to step up and do so. Oh how I wish TT could have been that company, but I guess it's not easy going up against the Evil Empire
Thanks....you too savoie....I really didn't mean to get confrontational over nothing....
I gotta work on that.


M.K.
Knight165
 
# 19 bluengold34_OS @ 08/20/08 09:40 AM
Quote:
Originally Posted by grunt
Dam good post. TT seem to be a lost company without a vision. They are in between wanting to be sold and just staying above board. They didn't come out with a football game this year but they decided that Prize Fighter was a good move.
Thanks Grunt, I appreciate it. I also agree with your take on prizefighter, although fun to some people, the overall approval rating was low.

Now just imagine for a second, if they didn't have to allocate funds and resources to the secured baseball license or Prizefighter. They put that money and talent into NCCA 2k, NBA 2k, an APF with everything people want........

I don't pretend to have all the answer's for 2k, but I do know that the company who was so promising back in early to mid part of this decade, has declined rapidly in many facets of their corp decision making.
 
# 20 spit_bubble @ 08/20/08 04:58 PM
Rockstar Games Presents Table Tennis.

Actually I don't even know... Maybe that game sold enough to bring in some returns...

Either way, when I saw that game was coming out I began to wonder... Why?
 

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