I think EA should do a hostile takeover
Don’t you?
I mean they offered USD2billion for this wee company called Take 2 and they turned it down. Yes, you heard me, they turned USD2 billion down. What morons. I’d say do a Deal or No Deal and lower the price as their second move or just let Take 2 face the consequences of a lawsuit. Geez.
Back in February, Electronic Arts made a $2 billion offer for Take-Two, which Take-Two promptly turned down, stating that it didn’t believe it was enough.
Later in the month, Take-Two made it known that EA was not the only suitor it had and also secured severance plans for its employees in the result of being taken over and downsized.
However, by the beginning of this week, some of the company’s shareholders were getting restless. Two major stockholders ditched a percentage of their Take-Two stock, and one shareholder filed a lawsuit against the company for not exploring EA’s offer.
Everyone’s been waiting to see what EA’s next move would be: Would the company put a higher offer on the table or attempt a hostile takeover? Today, the megapublisher has decided on the latter, reports The Wall Street Journal.
Electronic Arts has now confirmed that it will be taking its offer directly to the shareholders of the Grand Theft Auto IV and BioShock 2 publisher at the same price it originally gave–$26 a share.
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