EA bids for GTA Firm

[Andeeh]

EA bids for Grand Theft Auto firm

Grand Theft Auto IV will be released on 29 April

US video game giant Electronic Arts has made an unsolicited $1.9bn (£968m) offer for the owner of Grand Theft Auto, Take-Two Interactive Software.
EA said it had gone public with its all-share offer after having pursued it privately since December.
Take-Two immediately rejected the offer, which was 50% higher than its closing price on Friday.
Its management said that EA was trying to pick up the company cheaply ahead of April's release of Grand Theft Auto IV.
"Electronics Arts' proposal provides insufficient value to our shareholders and comes at absolutely the wrong time," Take-Two chairman Strauss Zelnick said in a statement.
Latest round
But EA's chief executive John Riccitiello tried to appeal directly to shareholders.
"There can be no certainty that in the future EA or any other buyer would pay the same high premium we are offering today," he said. EA added it was offering $26 a share, after Take-Two rejected $25 a share earlier this month. If the deal were to go through it would be the latest round of consolidation in the gaming industry, following Activision's $18bn acquisition of the gaming unit of France's Vivendi, which was announced in November.


What it seems they are trying to buy it just before realease of GTA4. Clever one but taketwo aint budging.

http://news.bbc.co.uk/1/hi/business/7262328.stm - Source

[jesus]

That's an outrageous amount to pay. I'm glad they aren't accepting because EA would just make the game go downhill.

[mangle]

Gosh , EA need to let other firms at least compete with them!

If take two accept , its nuts for GTA.

[Mario]

if they do accept and GTA gets ruined that'll a load of games EA have ruined, first the CnC series (after 2001) and now this.

[---MAD---]

That's an outrageous amount to pay. I'm glad they aren't accepting because EA would just make the game go downhill.

Doubt thats possible now its far too late. The game is probably already finished and set away for manufacturing or is about to be. We are at the end of february now .

I read at gamespot.com that the move was actually for the sports division not the GTA franchise.

[jesus]

Doubt thats possible now its far too late. The game is probably already finished and set away for manufacturing or is about to be. We are at the end of february now .

I read at gamespot.com that the move was actually for the sports division not the GTA franchise.

I meant the game in general (future games etc.)

Does GTA fall into 'sports' then or is that meaning that they aren't even interested in GTA?

[Andeeh]

I meant the game in general (future games etc.)

Does GTA fall into 'sports' then or is that meaning that they aren't even interested in GTA?

Tbh i thought they was gonna buy them for the money they will get wen GTA4 is out

Gta is probbably done just tweeking it all up so they cant ruin that.

[---MAD---]

I meant the game in general (future games etc.)

Does GTA fall into 'sports' then or is that meaning that they aren't even interested in GTA?

Future of GTA is a good point actually. And no gta isn't a sport .

[jesus]

Future of GTA is a good point actually. And no gta isn't a sport .

I know, I asked because of the point you made about them buying sports and I thought this might be included somehow because of how it was described.

If they kept the same developers etc. with it then it shouldn't change a lot but I'm sure there would be some noticable differences in future games if it did change hands.

[Agent 47]

One of the big wigs at EA confirmed that they waited until GTAIV was finished till they made the bid. That must mean that it's either finished or in the final testing stage.