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Game Details
Grand Theft Auto IV
Available on :
Xbox 360
Playstation 3
Playstation 3
Developed by :
Published by :
Genre :
Third Person Action Game
Description
What does the American Dream mean today? For Niko Bellic, fresh off the boat from Europe, it is the hope he can escape his past. For his cousin, Roman, it is the vision that together they can find fortune in Liberty City, gateway to the land of ...
Articles
04-05-08 Review for Xbox 360
Latest news
04-30-08 GTA 4 has issues
04-28-08 Guinness keeps an eye on GTA IV
04-22-08 GTA IV Limited Edition
04-22-08 Grand Theft Auto IV ads removed
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News
Take2 gives EA the finger
The board members of Take-Two have officially rejected Electronic Arts' offer of $26 per share but analysts say it's a "mistake".
Ok, small recap: Electronic Arts is desperately trying to take over Take2 to acquire 2K Games (direct competition to EA's own sports series) and Rockstar (makers of the renowned Grand Theft Auto games) and has already made two bids, the second being an offer of $26 per share. In other words: a hostile takeover bid in the hopes that minority shareholders would grab their chance and sell their stock.
Today the board of Take2 has officially announced they do not think $26 is in the interest of the shareholders and they shouldn't go for it.
Meanwhile, MCV has word from analyst Goldman Sachs that they believe EA will come with another, even better, offer.
And since there's always someone who's got to be more explicit than the rest, Gamedaily has word from Wedbush Morgan Securities analyst Michael Pachter who finds Take2's decision "ill advised". In other words: plain stupid.
Take2 themselves stated they're open to all offers and will look for the best option:
- chances of Take2 being taken over: 90%
- chances of Take2 being taken over by EA: 80%
- chances of Take2 remaining solo: 10% and decreasing
Ok, small recap: Electronic Arts is desperately trying to take over Take2 to acquire 2K Games (direct competition to EA's own sports series) and Rockstar (makers of the renowned Grand Theft Auto games) and has already made two bids, the second being an offer of $26 per share. In other words: a hostile takeover bid in the hopes that minority shareholders would grab their chance and sell their stock.
Today the board of Take2 has officially announced they do not think $26 is in the interest of the shareholders and they shouldn't go for it.
Meanwhile, MCV has word from analyst Goldman Sachs that they believe EA will come with another, even better, offer.
And since there's always someone who's got to be more explicit than the rest, Gamedaily has word from Wedbush Morgan Securities analyst Michael Pachter who finds Take2's decision "ill advised". In other words: plain stupid.
In our view, Take-Two's Board has made a mistake. We believe that the company was positioned to extract a higher offer from EA by offering a friendly transaction, and its Board chose to continue its adversarial posture. We do not mean to suggest that EA's offer was intended as a friendly one, but note that it started out as such, and EA turned hostile only after its first two friendly offers were summarily rejected. We think that Take-Two's position that the company will have greater value after the release of Grand Theft Auto IV is naive at best, and disingenuous at worst. It is inconceivable to us that there are any Take-Two shareholders (current or prospective) who are not aware of the upcoming release of the game, and we do not believe that the game's reviews or first week's sales will ultimately impact the company's valuation in any meaningful way. In our view, Take-Two's share price prior to EA's offer fully reflected the success of the game, and we don't believe that EA's $26 offer was made without an assessment of the potential of the game. The absence of other offers in the interim suggests to us that EA values Take-Two more highly than any other interested party, and we are confounded that Take-Two's Board believes that other parties will be willing to pay more than $26 after the release of the game.
Of course there's more to Pachter than we've quoted and you can read his full statement (always a pleasure to read) right here.Take2 themselves stated they're open to all offers and will look for the best option:
"Our Board, after careful review, has unanimously determined that Electronic Arts' offer continues to provide insufficient value and remains opportunistically timed to capture the value of the upcoming Grand Theft Auto IV launch at the expense of our stockholders," said Take-Two chairman Strauss Zelnick.
"We are effectively working toward a process to review all available options to maximise this value, either as an independent company or in combination with a third party, and are open to beginning informal discussions starting now."
Conclusion:"We are effectively working toward a process to review all available options to maximise this value, either as an independent company or in combination with a third party, and are open to beginning informal discussions starting now."
- chances of Take2 being taken over: 90%
- chances of Take2 being taken over by EA: 80%
- chances of Take2 remaining solo: 10% and decreasing
In other news:
1 Comment(s)
Anonymous
Plus, I think the one guy has his head deep up his own butt. Activision stock went way up after CoD4, and GT4 is predicted to be even bigger than that. I think the guy should do some research b4 spouting off.