Feb
29th

Take Two plays the flirt with EA bid and other companies

Files under News | Posted by Dennis |

gta_iv.jpgWhile it was recently announced that EA had approached Take Two Interactive with $2 billion dollars to buy their company, it seems Take Two is getting around.

In a filing with the Securities and Exchange Commission on Thursday, Take Two reported that since EA’s offer the company has received additional offers described as “informal indications of interest in a business combination.” However, no specific companies have been named.

With top titles like Bioshock and Grand Theft Auto under its umbrella, it seems Take Two feels, like Epic VP Mark Rein, that their company is worth far more than what EA would like to offer. In a press release on their website Executive Chairman of the Board Strauss Zelnick stated that EA’s offer was rejected due to providing “insufficient value to our shareholders and comes at absolutely the wrong time given the crucial initiatives underway at the Company.”

However, that doesn’t mean that they’ve rejected EA’s offer entirely. Zelnick went on to say “While the Board believes that entering into discussions with EA at this time is not in the best interests of shareholders, we had offered to enter into a good-faith dialogue with EA to determine if our companies can reach common ground on the appropriate value of Take-Two as a first step to realizing a mutually beneficially transaction.”


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