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Take-Two Interactive, Inc. (TTWO)
EA makes all cash tender offer to purchase Take-Two
EA makes all cash tender offer to purchase Take-Two
Joystiq.com - March 13, 2008
Submitted by vGInfidel (150) at 4:32AM PST on March 13, 2008
With Take-Two Executive Chairman Strauss Zelnick having thoroughly rejected EA's initial buyout offer, the publisher has redirected its corporate Katamari at Take-Two shareholders. EA has announced the commencement of a tender offer for all of the currently outstanding shares of common stock of Take-Two Interactive Software at $26 per share. When compared to Wednesdays stock price it constitutes a 4.4% premium. The tender offer is good until midnight EST on Friday, April 11, 2008.
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1apujanata posted on Take-Two Interactive, Inc. (TTWO) at 9:34AM PST on March 14, 2008. RE: EA makes all cash tender offer to purchase Take-Two@zukaus,
Well, if what you predicted did come true, then this is a prime example of what happened when management doesn't act on behalf of owner (shareholder), and are just thinking of themselves.
Shareholder can just ignore those management, and take the cash offer.
I think what will happen is that T2 management will ask shareholder to wait until GTAIV release, so the stock price will increase (assuming the game did better than expectation), and they can squeeze EA for more money :).[ Oracle ] [ Level 30 ] [ Rank: 14935 ]bids
3zukaus posted on Take-Two Interactive, Inc. (TTWO) at 9:08PM PST on March 13, 2008. RE: EA makes all cash tender offer to purchase Take-Two@apujanata,
No, all that means is that for the next two weeks Take-Two management is going to take a look at the offer because legally they have to. In that time perhaps they'll think up new ways to squeeze EA for more money or maybe give themselves another raise. Then after two weeks of stalling they'll tell shareholders to not sell again because Take-Two management would really like to keep its cash cow.
Excuse my intense cynicism.[ Oracle ] [ Level 30 ] [ Rank: 4 ]bids
1apujanata posted on Take-Two Interactive, Inc. (TTWO) at 7:08PM PST on March 13, 2008. RE: EA makes all cash tender offer to purchase Take-Two@vGInfidel,
Does this mean T2 board have 10 days to find other "interested" buyer, other than EA (assuming they are really, really reluctant to EA takeover) ?[ Oracle ] [ Level 30 ] [ Rank: 14935 ]bids
1vGInfidel posted on Take-Two Interactive, Inc. (TTWO) at 6:46PM PST on March 13, 2008. RE: EA makes all cash tender offer to purchase Take-Two@vGInfidel,
An update on the situation that i didnt think merited a new article.
Take-Two is appealing to stockholders not to consider EA's early-morning all cash tender offer, which pitched a purchase of the company's stock at $26 a share (a 4.4% premium over yesterday's closing price). The Take-Two board states it will review and consider EA's offer and, within 10 business days, advice stockholders of the board's position on the matter along with its reasoning.
The 10 day "please wait" request from the Take-Two board is still way within the April 11 deadline given by EA on its $26 per share offer to stockholders. EA wants Take-Two and it wants it bad.
Source[ Oracle ] [ Level 22 ] [ Rank: 150 ]bids
1Powertrade posted on Take-Two Interactive, Inc. (TTWO) at 11:13AM PST on March 13, 2008. RE: EA makes all cash tender offer to purchase Take-TwoA tender is definitely the way to go. MSFT should be doing the same thing with YHOO. If the management is rejecting the bid but shareholders are clearly for it, its time to start buying shares from the existing shareholders. TTWO shareholders should tender if they haven't sold already.[ Guru ] [ Level 21 ] [ Rank: 219 ]bids
35vGInfidel posted on Take-Two Interactive, Inc. (TTWO) at 4:32AM PST on March 13, 2008. Article: EA makes all cash tender offer to purchase Take-TwoWith Take-Two Executive Chairman Strauss Zelnick having thoroughly rejected EA's initial buyout offer, the publisher has redirected its corporate Katamari at Take-Two shareholders. EA has announced the commencement of a tender offer for all of the currently outstanding shares of common stock of Take-Two Interactive Software at $26 per share. When compared to Wednesdays stock price it constitutes a 4.4% premium. The tender offer is good until midnight EST on Friday, April 11, 2008.[ Oracle ] [ Level 22 ] [ Rank: 150 ]
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That's exactly what I am implying, Take-Two's management comes first. Additionally, I believe the whole "let's wait until GTA 4 is released till we talk" is a bit of a red herring it's just a stall tactic.
A number of people seem to be mislead by Take-Two into thinking that Take-Two shares will for some reason automatically rise after GTA 4's release and that EA is somehow being underhanded by making a bid beforehand. GTA 4's release is already fully priced in by investors. Wall St. knows all about one of the most successful videogame franchises of all time and already expects GTA 4 to be a massive hit.
If it weren't for EA's bid which is supporting the current price, I believe the chance of Take-Two shares falling on GTA 4's release, because they did not beat high expectations, would be pretty much the same as those of it rising on better than expected sales.