Take-Two/EA Saga - Part IV

The magical fairy tail of a capitalist corporation hell-bent on swallowing a talented publisher continues…..

Press Release:

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today responded to Electronic Arts Inc.’s (NASDAQ:ERTS) announcement that it is extending for a fourth time its unsolicited conditional tender offer to acquire all of Take-Two’s outstanding shares.

As reported by EA, only 6,139,824 of Take-Two’s outstanding shares, or approximately 7.9% of the total, tendered into EA’s offer as of 5:00 p.m. Eastern time on June 16, 2008. Read more

Take-Two responds to EA’s Takeover extension offer

More twists & turns in Take-Two/EA fairytale, Take-Two’s response is still NO.

Press Release:  

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today responded to Electronic Arts Inc.’s (NASDAQ:ERTS) announcement that it is extending for a third time its unsolicited conditional tender offer to acquire all of Take-Two’s outstanding shares. As reported by EA, only 6,210,261 of Take-Two’s outstanding shares, or approximately 8.0% of the total, tendered into EA’s offer as of 5:00 p.m. Eastern time on May 16, 2008. Read more

CBS to buy C|Net for $1.8 billion

According to Yahoo! Business, CBS Corporation is reportedly dropping $1.8 billion dollars to buy out C|Net networks. The deal is estimated at $11.50 per share. This acquisition will make CBS one of the most popular Internet companies in the USA.

CBS Corporation (NYSE: CBS.A - News and CBS - News) has entered into an agreement to acquire CNET Networks, Inc., it was announced today by Leslie Moonves, President and Chief Executive Officer, CBS Corporation. Under the terms of the agreement, CBS will make a cash tender offer for all issued and outstanding shares of CNET Networks for $11.50 per share, representing an equity value of approximately $1.8 billion. The acquisition will make CBS one of the 10 most popular Internet companies in the United States, with a combined 54 million unique users per month, and approximately 200 million users worldwide. 

Take-Two Tells Shareholders to Hold Off, Final Decision in 10 days

Take-Two Interactive has urged shareholders to take no action following Electronic Arts’ official tender for all outstanding shares of common stock of the company.

“Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, Take-Two’s Board will review and consider EA’s offer, and within 10 business days, will advise Take-Two’s stockholders of the Board’s position regarding the offer as well as its reasons for that position,” said the company in a statement.

by GamesIndustry.biz

EA wants to forcefully buy Take Two

The EA-wants-buy-Take-Two fairy tale (if you can call it that) has now taken another twist, EA is offering a tender for all of outstanding shares of common stock of Take-Two. The company is offering USD 26 per share in cash, and is valued at approximately USD 2 billion – a 64 per cent premium of Take-Two’s stock price on February 15, the last day of trading before EA made its revised bid to acquire the company, reports GameIndustry.biz.

“This is a great opportunity for Take-Two shareholders,” commented John Riccitiello, CEO of EA. “We believe Take-Two investors will see our tender offer as the best way to maximise the value of their investment in Take-Two.

All this after Take-Two formed a severance plan and got sued by it’s shareholders that and the tiny newsbit that predicts GTA IV will sell 9m copies…

by GamesIndustry.biz