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Game Forum / Action Games / Grand Theft Auto / February 2008Electronic Arts Proposes to Acquire Take-Two Interactive Software for about $2 Billion
Electronic Arts Proposes to Acquire Take-Two Interactive Software for $26 Per Share in Cash, or Approximately $2.0 Billion Sunday February 24, 2:00 pm ET Proposal Represents 64 Percent Premium to Take-Two's February 15th Closing Price and 63 Percent Premium to Take-Two's Closing Price Over the Previous 30 Days REDWOOD CITY, Calif.--(BUSINESS WIRE)--Electronic Arts Inc. today announced that it has proposed to acquire Take-Two Interactive Software, Inc. in an all-cash merger valued at approximately $2.0 billion. EA's proposal of $26 per share in cash represents a premium of 64 percent over Take-Two's closing stock price on Feb. 15th, the last trading day before EA sent its revised proposal to Take-Two, and a 63 percent premium over Take-Two's 30-day trailing average price over the thirty trading days ending on that date. 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. As noted in EA's Feb. 19th letter, EA's proposal is not conditioned on any financing requirement. It is, however, subject to certain customary conditions as set forth in the letter. EA's $26 per share proposal is based on the current equity capitalization of Take-Two. Although EA indicated in the letter that its proposal was subject to negotiations commencing by Feb. 22nd, EA intends to keep its proposal open for the present to give Take-Two's shareholders and Board of Directors further time to consider it. (the rest here) http://biz.yahoo.com/bw/080224/20080224005062.html?.v=1 Geez, and the letter doesn't even say "Yes, and your sports titles will die a horrible death!" In all seriousness though, this would indeed be a sad day for all sports gamers if this deal happens. EA will own sports in Video gaming and with no more competition, well...nuff said. I have been around long enough to understand why mergers like these happen but I just hope that someone else in the other large corporations realizes what giving EA Take 2 really means not just for gamers but for their own pocket books. > Electronic Arts Proposes to Acquire Take-Two Interactive Software for > $26 Per Share in Cash, or Approximately $2.0 Billion [quoted text clipped - 51 lines] > > http://biz.yahoo.com/bw/080224/20080224005062.html?.v=1 > Geez, and the letter doesn't even say "Yes, and your sports titles will > die a horrible death!" Hmm.... Lets think about this. If Take 2 Makes a superior basketball game to EA and a comparable American Football game and a pretty decent basketball game, why would THEIR sports titles die a horrible death? If anything, this is VERY good for gaming. In theory, EA could apply everything that take 2 does that is superior and make an uber-sports game. Online leagues, fluid animation, player VIP information....... The possibilities are endless. Killing off Take 2 wouldn't make people forget what they liked about their games, it would EMPHASIZE it. Bringing Take 2 back to where it was would only make EA look like the good guy in this situation. Is Visual Concepts still owned by take 2 anyway? If not, all this is irrelevant in terms of sports gaming. > In all seriousness though, this would indeed be a sad day for all sports > gamers if this deal happens. EA will own sports in Video gaming and with [quoted text clipped - 58 lines] >> >> http://biz.yahoo.com/bw/080224/20080224005062.html?.v=1 >> Geez, and the letter doesn't even say "Yes, and your sports titles will >> die a horrible death!" > > Hmm.... Lets think about this. If Take 2 Makes a superior basketball game > to EA and a comparable American Football game and a pretty decent > basketball game, why would THEIR sports titles die a horrible death? Yup. Can you imagine 2K Basketball with EA's graphics? In theory you are right but it all depends on the acquisition and how it pans out. It costs to merge code bases and that also assumes that the right Devs stay behind to help with this. Also, that is saying that EA does indeed think that 2K makes a significantly better product to adapt their code base. Now, even if they did integrate, while we may see benefits in the short term, without competition, why strive to be better every year? Why push the limit, spend extra money when there is no incentive. If you are the only game in town, people either play what you have or go without. Captive audience. Just look at the track record EA has when there is no competition but every time someone starts to take any form of market share from them, we see an increase in the quality of their games. So, I do not dismiss what you guys are saying and I agree with you all for the short term but a leopard never changes its spots. >>> Geez, and the letter doesn't even say "Yes, and your sports titles will >>> die a horrible death!" [quoted text clipped - 4 lines] > > Yup. Can you imagine 2K Basketball with EA's graphics? > >> Geez, and the letter doesn't even say "Yes, and your sports titles will > >> die a horrible death!" [quoted text clipped - 4 lines] > > Yup. Can you imagine 2K Basketball with EA's graphics? EA would take the worst of both worlds. - Rich >> >> Geez, and the letter doesn't even say "Yes, and your sports titles >> >> will [quoted text clipped - 8 lines] > > EA would take the worst of both worlds. They don't with football and hockey. EA's hockey game needs nothing from 2K. They far and away have the absolute best puck game ever made. >>> >> Geez, and the letter doesn't even say "Yes, and your sports titles >>> >> will [quoted text clipped - 11 lines] > They don't with football and hockey. EA's hockey game needs nothing from > 2K. They far and away have the absolute best puck game ever made. lol Both games have problems and both games have good things about them. >>>> >> Geez, and the letter doesn't even say "Yes, and your sports titles >>>> >> will [quoted text clipped - 14 lines] > > Both games have problems and both games have good things about them. 2K's hockey isn't even on the same stratosphere as EA's. A couple a years ago they were but EA has since left them in the dust holding their stick. NHL 08 is the single best hockey game I have ever played and I have played them all. If you go online with the 360 most will tell you exactly that. It is amazing how close to the sport it is. The only game I would not argue that might being a slightly better sports game is 2K basketball. >>>>> >> Geez, and the letter doesn't even say "Yes, and your sports >>>>> titles >> will [quoted text clipped - 22 lines] > I would not argue that might being a slightly better sports game is 2K > basketball. Didn't know real life had a catchup logic. >>>>>> >> Geez, and the letter doesn't even say "Yes, and your sports >>>>>> titles >> will [quoted text clipped - 24 lines] >> basketball. > Didn't know real life had a catchup logic. Isn't that what any sport is about? Winning? Especially when you are trailing you must catch up to win. >>>>>>> >> Geez, and the letter doesn't even say "Yes, and your sports >>>>>>> titles >> will [quoted text clipped - 27 lines] > Isn't that what any sport is about? Winning? Especially when you are > trailing you must catch up to win. you might want to read this thread http://www.thebreakaway.net/forums/showthread.php?t=14704 >>>>>>>> >> Geez, and the letter doesn't even say "Yes, and your sports >>>>>>>> titles >> will [quoted text clipped - 30 lines] > you might want to read this thread > http://www.thebreakaway.net/forums/showthread.php?t=14704 No I will pass. I followed enough hockey in my life time (been a fan for 30+ years) to know NHL 08 is the closest any developer has ever come to the real thing and it is far and away the best hockey game ever made (so far). >>>>>>>> On Feb 24, 8:06 pm, "boodybandit" <allaboutga...@comcast.net> >>>>>>>> wrote: [quoted text clipped - 39 lines] > know NHL 08 is the closest any developer has ever come to the real thing > and it is far and away the best hockey game ever made (so far). it may be the closest, but it is far from being realistic. >>>>>>>>> On Feb 24, 8:06 pm, "boodybandit" <allaboutga...@comcast.net> >>>>>>>>> wrote: [quoted text clipped - 40 lines] >> and it is far and away the best hockey game ever made (so far). > it may be the closest, but it is far from being realistic. It's still far and away the best made thus far. The NHL 2K series still feels like pong even with the advanced controls. I won't argue that the CPU AI in 2K feels better but what makes hockey hockey is finesse, agility, stick handling, deking, etc... . 2K still feels stiff, has average to near horrible Goalie animations, and although the vacuum goalie problem isn't as bad in 2K8, it's still there. EA has you completely immersed into the game now with total control of your players. This is something I have always wanted in a hockey game and I mostly play online vs. against the CPU anyway. If I was only into playing the CPU I might own both but I'm not. I rented 2K8 for a few weeks and thought it was decent but not as good as last year. Besides EA totally smokes 2K, not only in control but, graphically, sound and presentation. It's not like I am alone, other than on this particular group on this >>>>>>>>>> On Feb 24, 8:06 pm, "boodybandit" <allaboutga...@comcast.net> >>>>>>>>>> wrote: [quoted text clipped - 59 lines] > and presentation. It's not like I am alone, other than on this particular > group on this (didn't finish. got side tracked multitasking) , but all reviews agree. NHL is rated 85% vs. 2K8 74%. I usually don't pull out the ratings card but this isn't a difference of a percent or 3 but rather 11%. > >>>>>>>>> <richardhut...@gmail.com> wrote in message > >>>>>>>>>news:1a125116-2f7f-4977-a6ba-da50a7c27452@u69g2000hse.googlegroups.com... [quoted text clipped - 70 lines] > out the ratings card but this isn't a difference of a percent or 3 but > rather 11%. EA IS capable of doing well, when they have competition. When they fail to, it isn't pretty. - Rich >> >>>>>>>>> <richardhut...@gmail.com> wrote in message >> >>>>>>>>>news:1a125116-2f7f-4977-a6ba-da50a7c27452@u69g2000hse.googlegroups.com... [quoted text clipped - 86 lines] > EA IS capable of doing well, when they have competition. When they > fail to, it isn't pretty. EA always does well and I don't recall them failing at any of the big titles. What gets me about EA is the don't innovate or create they simply buy their way to the top by purchasing their competition or license out from under them. And to top it off they micro transaction the sh.t out of everyone of their titles now. The only game I am interesting in from EA is NHL and Battlefield > <richardhut...@gmail.com> wrote in message > [quoted text clipped - 102 lines] > > The only game I am interesting in from EA is NHL and Battlefield I will say EA seldom fails miserably with their titles. Unless they are pandering to fanboys like Madden, their titles are generally bland, but executed ok. I will say Madden isn't horrible, just it annoys me severely in what they removed that made the game playable for me. Anyhow, when you compare EA now to Electronic Arts when it was originally founded, there is a LARGE difference. They were innovative, groundbreaking, and a company one really liked. They put the developers first, and did a great job. Now, they just buy and fail to innovate. - Rich >>> Didn't know real life had a catchup logic. >> >> Isn't that what any sport is about? Winning? Especially when you are >> trailing you must catch up to win. > you might want to read this thread > http://www.thebreakaway.net/forums/showthread.php?t=14704 Yep. Rubberband AI sucks - fall behind too far and suddenly your opponent become the most incompetent bunch of idjits you'll ever see, but get ahead and the AI cheats like mad to catch up and pull ahead. It only exists because programmers, especially in sports, racing, FPS and RTS/TBS games, are too lazy to try and make a decent AI that could actually challenge humans.  Signature"Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we." - George W. Bush [August 5th, 2004] On Feb 25, 10:04 pm, Gumby <gumb...@eastlink.spammersmustdie.ca> wrote: > >>> Didn't know real life had a catchup logic. > [quoted text clipped - 9 lines] > RTS/TBS games, are too lazy to try and make a decent AI that could > actually challenge humans. Rubber band AI (originating from the term "rubber band" in reference to racing) is a shorthand cheat that the Midway sports titles used. Blitz had it, and I am sure NBA Jam had it. I will add that is FINE to put in a game as an OPTION you can turn off. But if you happen to sneak it in there, without allowing people to toggle off, that is a problem. - Rich >>>>>>>> >> Geez, and the letter doesn't even say "Yes, and your sports >>>>>>>> titles >> will [quoted text clipped - 30 lines] > you might want to read this thread > http://www.thebreakaway.net/forums/showthread.php?t=14704 NHL 2K8 at Hall of Famer difficulty is just perfect. The comeback logic is exactly what turned me off from NHL 08. I didn't want to be punished for playing well during every game. >>>>> >> Geez, and the letter doesn't even say "Yes, and your sports >>>>> titles >> will [quoted text clipped - 22 lines] > I would not argue that might being a slightly better sports game is 2K > basketball. As an actual hockey fan from the birthplace of hockey, I will tell you that I find 2k to be closer to the real deal than NHL 08. However, you are entitled to your own opinion regardless of how it may differ from mine. > <richardhut...@gmail.com> wrote in message > [quoted text clipped - 19 lines] > They don't with football and hockey. EA's hockey game needs nothing from 2K. > They far and away have the absolute best puck game ever made. The fact that they have competition means that they work harder. Has Madden gotten better since EA doesn't have any competition in the football arena? - Rich On Feb 25, 11:55 am, richardhut...@gmail.com wrote: > > <richardhut...@gmail.com> wrote in message > [quoted text clipped - 23 lines] > Madden gotten better since EA doesn't have any competition in the > football arena? Review-wise I believe it's been getting worse. Part of that though is I think the sports genre has been played out in this age of realistic graphics. Now that everything looks so real, there isn't much more you can do to improve the games from year to year, so I think the games have grown stale to reviewers. > On Feb 25, 11:55 am, richardhut...@gmail.com wrote: > [quoted text clipped - 31 lines] > can do to improve the games from year to year, so I think the games > have grown stale to reviewers. How about NOT taking things out people liked? Simple things like allowing you to run a game in coach only mode or having the AI run parts you don't want to play or even allowing you to set up game so that the AI can play both sides? EA decides to take out this, which shouldn't make a difference, or take up much code space. - Rich >> On Feb 25, 11:55 am, richardhut...@gmail.com wrote: >> [quoted text clipped - 48 lines] > > - Rich LOL. You have been talking about coach mode for years now and it is very clear that has a lot to do with your animosity toward EA. There is only so much you can do with a game that is released annually and it is going to be impossible for them to score what they scored 4 or 5 years ago in terms of reviews. > <richardhut...@gmail.com> wrote in message > [quoted text clipped - 58 lines] > impossible for them to score what they scored 4 or 5 years ago in terms of > reviews. Way back when IN THE ORIGINAL XBOX days, you were able to have the AI do things you didn't want, which didn't need a coach only mode. 2K Sports went with that, or forced you to have the QB do passing. This was a BIG factor in me sticking with Madden. Well, now in the era of 360-PS3, they dropped that from the system, making Madden take on the ONE thing I hated about 2K Football, that being you can't run plays coach mode. It is a kick to the groan for me. I have spoken on this ever since it has been an issue. Anyhow, ok, there is only so much you can do. But is it too much to ask them NOT to take things out that take up almost no space in memory or disk space? My anger against EA isn't just the NFL. It is that they engaged in activities with the ONLY intent to permanently prevent them from having any competitors in football. They knocked out college AND arena football. They also took the ESPN license. The intent here was to have a monopoly in this area. Why am I supposed to think this is a good thing? Is it a good thing? - Rich >>> >> Geez, and the letter doesn't even say "Yes, and your sports titles >>> >> will [quoted text clipped - 11 lines] > They don't with football and hockey. EA's hockey game needs nothing from > 2K. They far and away have the absolute best puck game ever made. It's very limited IMO. I have both NHL 08 and 2K8 on my shelf and I simply don't like NHL 08. I don't find that you have the same level of control as you do in NHL 2K8. >>>> >> Geez, and the letter doesn't even say "Yes, and your sports titles >>>> >> will [quoted text clipped - 15 lines] > don't like NHL 08. I don't find that you have the same level of control as > you do in NHL 2K8. I disagree. If anything you don't come close to having the same level of ability or stick handling in 2K that you do in EA. You can put the puck any where you choose. The agility of that title is amazing. Are you sure you are playing the same games I played. 2K hockey this year is a total cluster f*ck with their new controls. They ruined the game. > > Geez, and the letter doesn't even say "Yes, and your sports titles will > > die a horrible death!" [quoted text clipped - 10 lines] > still owned by take 2 anyway? If not, all this is irrelevant in terms of > sports gaming. Has Madden gotten better or worse whenever it didn't have competition? - Rich >> Geez, and the letter doesn't even say "Yes, and your sports titles will >> die a horrible death!" [quoted text clipped - 10 lines] > situation. Is Visual Concepts still owned by take 2 anyway? If not, all > this is irrelevant in terms of sports gaming. It's too bad Take 2 has alot more going on than just sports games. Otherwise i'd welcome the idea too. > Geez, and the letter doesn't even say "Yes, and your sports titles will > die a horrible death!" [quoted text clipped - 5 lines] > in the other large corporations realizes what giving EA Take 2 really > means not just for gamers but for their own pocket books. OOOH! Big corporation wants to make money. That must be BAD! > Electronic Arts Proposes to Acquire Take-Two Interactive Software for > $26 Per Share in Cash, or Approximately $2.0 Billion [quoted text clipped - 51 lines] > > http://biz.yahoo.com/bw/080224/20080224005062.html?.v=1 I'm one of a very small number of people that prefers the 2K sports games to the EA ones. Being from Montreal, the only sports games that matter to me involve hockey and I can honestly say that I have steadily preferred teh NHL 2K series to the NHL 0 series for a while now. If this happens, I will literally be very pissed. Honestly, I think that if this deal has not yet happened, it might be a good idea for Microsoft or someone else to step in and put in a higher bid. Electronic Arts is already too large and this whole takeover would leave the gaming industry with a situation similar to that of cinema (where movies basically come from a handful of American studios that have no ability to create anything original and independent movies are virtually ignored and seldom cast into the spotlight). > > Electronic Arts Proposes to Acquire Take-Two Interactive Software for > > $26 Per Share in Cash, or Approximately $2.0 Billion [quoted text clipped - 65 lines] > have no ability to create anything original and independent movies are > virtually ignored and seldom cast into the spotlight). WTF? Do you remember what MS sports were like? >>> Electronic Arts Proposes to Acquire Take-Two Interactive Software for >>> $26 Per Share in Cash, or Approximately $2.0 Billion [quoted text clipped - 58 lines] > > WTF? Do you remember what MS sports were like? Rivals was way better than Faceoff for the LG consoles. >>> Electronic Arts Proposes to Acquire Take-Two Interactive Software for >>> $26 Per Share in Cash, or Approximately $2.0 Billion [quoted text clipped - 58 lines] > > WTF? Do you remember what MS sports were like? I do, but they were starting from scratch whereas 2K Sports are already established. I have not bought a single EA game is almost 4 years and that is not going to change for a good long time it seems. People keep buying sh.t like The Sims, NFS and Madden every year repackaged and cloned. > Electronic Arts Proposes to Acquire Take-Two Interactive Software for > $26 Per Share in Cash, or Approximately $2.0 Billion [quoted text clipped - 51 lines] > > http://biz.yahoo.com/bw/080224/20080224005062.html?.v=1 AGGTA is the only newsgroup in that bunch i use, so i'll keep it in the family for my reply. I'm glad they held out, and i really hope this doesn't happen. EA has done damage in the past while aquiring and growing. Here's a perfect example that some will certainly recognize. And if this has already been hashed, my apologies. I don't have time to swim through 6 groups worth of replies. NASCAR by Papyrus (put out through Sierra). Easily the worst thing to happen to the more dedicated online racing community. Once EA was able to secure the rights for NASCAR, they promptly released a product that was mainstream, and left the community that purchased each release religiously from Papy out in the cold. Sure, they improved on the sales numbers and online numbers probably from the mainstream, but didn't even offer the existing customer base an option. So, here it is 2008 and i still run Nascar 2003. Thankfully the racing community keeps it updated with carsets, seasons, and tracks. And runs at a phenomenal framerate on a newer rig. EA certainly didn't kill the NASCAR gaming franchise, but they did dumb it down a bit. Made it too Disney World, or McDonald's. Pick one. I pre-purchased GTA4 almost 2 months ago for a system i didn't own until last week. I've always been a PC gamer, but wasn't going to wait for a PC port that would most likely require a hardware upgrade since my rig is 4 years old. 350 bucks will barely get me a decent video card, so it was an easy choice. Seeing EA control any part the GTA franchise would make me worry. It's one of the very few titles i have time for these days. > Electronic Arts Proposes to Acquire Take-Two Interactive Software for > $26 Per Share in Cash, or Approximately $2.0 Billion [quoted text clipped - 51 lines] > > http://biz.yahoo.com/bw/080224/20080224005062.html?.v=1 > AGGTA is the only newsgroup in that bunch i use, so i'll keep it in the > family for my reply. [quoted text clipped - 3 lines] > some will certainly recognize. And if this has already been hashed, my > apologies. I don't have time to swim through 6 groups worth of replies. To me, I'm glad T2 didn't take the offer. It would be nice if EA didn't have their tendrils in EVERY sucessful video game franchise. We don't need EA to be the Microsoft of video games, period. That would stifle innovation, and company chairpersons could potentially ruin future games. I don't even like the fact they had a hand in Orange Box, even though it didn't apply to me(ie I own the PC version). |
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