DouglasMcc
Super Freak
- Joined
- Sep 17, 2005
- Messages
- 1,227
- Reaction score
- 0
Take Two's board rejected the initial offer, forcing EA to go hostile:
EA's proposal was contained in a letter sent on Feb. 19th by EA Chief Executive Officer John Riccitiello to Strauss Zelnick, Executive Chairman of the Board of Directors of Take-Two. The Take-Two Board's subsequent rejection of the EA proposal led to EA's decision to release the letter and bring its proposal to the attention of all Take-Two shareholders.
Mr. Riccitiello said today: "Our all-cash proposal is a unique opportunity for Take-Two shareholders to realize immediate value at a substantial premium, while creating long-term value for EA shareholders. Take-Two's game designers would also benefit from EA's financial resources, stable, game-focused management team, and strong global publishing capabilities."
The EA letter warned that further Take-Two delay in accepting EA's proposal could prevent Take-Two's shareholders and other constituents from realizing its benefits. "There can be no certainty that in the future EA or any other buyer would pay the same high premium we are offering today," Mr. Riccitiello wrote. The letter added that timely completion of the proposed transaction would allow EA's strong publishing and distribution network to positively impact the ongoing post-launch sales of GTA IV and support the new Take-Two titles scheduled for launch later in the year and during the holiday selling season.
https://ve3d.ign.com/articles/news/36984/EA-Attempting-To-Purchase-Take-Two-For-2-Billion#comments
How does this make any sense? Oh well, they do say Satan works in mysterious ways ... wait, that doesn't sound right?
As if R* didn't have enough to deal with with crazies like Jack Thompson. Now EA execs giving them 9 months to pump out Grand Theft Auto '09. Cause EA is all about the quality ... I didn't sound too sarcastic did I?
EA's proposal was contained in a letter sent on Feb. 19th by EA Chief Executive Officer John Riccitiello to Strauss Zelnick, Executive Chairman of the Board of Directors of Take-Two. The Take-Two Board's subsequent rejection of the EA proposal led to EA's decision to release the letter and bring its proposal to the attention of all Take-Two shareholders.
Mr. Riccitiello said today: "Our all-cash proposal is a unique opportunity for Take-Two shareholders to realize immediate value at a substantial premium, while creating long-term value for EA shareholders. Take-Two's game designers would also benefit from EA's financial resources, stable, game-focused management team, and strong global publishing capabilities."
The EA letter warned that further Take-Two delay in accepting EA's proposal could prevent Take-Two's shareholders and other constituents from realizing its benefits. "There can be no certainty that in the future EA or any other buyer would pay the same high premium we are offering today," Mr. Riccitiello wrote. The letter added that timely completion of the proposed transaction would allow EA's strong publishing and distribution network to positively impact the ongoing post-launch sales of GTA IV and support the new Take-Two titles scheduled for launch later in the year and during the holiday selling season.
https://ve3d.ign.com/articles/news/36984/EA-Attempting-To-Purchase-Take-Two-For-2-Billion#comments
How does this make any sense? Oh well, they do say Satan works in mysterious ways ... wait, that doesn't sound right?
As if R* didn't have enough to deal with with crazies like Jack Thompson. Now EA execs giving them 9 months to pump out Grand Theft Auto '09. Cause EA is all about the quality ... I didn't sound too sarcastic did I?