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Take-Two Interactive, Inc. (TTWO)
Take-Two board rejects EA's 'inadequate'...
Take-Two board rejects EA's 'inadequate'...
Joystiq.com - March 26, 2008
Submitted by vGInfidel (150) at 6:27AM PST on March 26, 2008
After reviewing EA's recent and "unsolicited" tender offer to nab shares in the Grand Theft Auto publisher at $26 a piece, Take-Two's board of directors has deemed the maneuver "inadequate in multiple respects and contrary to the best interests of Take-Two's stockholders." The board advises stockholders to hang on to their shares, claiming the offer "substantially undervalues" the company.
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2vGInfidel posted on Take-Two Interactive, Inc. (TTWO) at 5:34PM PST on March 26, 2008. RE: Take-Two board rejects EA's 'inadequate'...@apujanata,
yes i remember reading his prediction on the subject now. im guessing hes right more often than not to get to No.1 with nearly 300million dkp though :).
i expected the same thing really as i think that the T2 board are really hoping on a big boost from GTA4 and are holding out for that. which tbh i think is fairly stupid as EA would have factored GTA4 already into the equation and its a very risky strategy on T2's part as the only thing inflating their stock price atm is EA's offer which expires in a couple of weeks and things could quickly go wrong for them.[ Oracle ] [ Level 22 ] [ Rank: 150 ]bids
1apujanata posted on Take-Two Interactive, Inc. (TTWO) at 5:20PM PST on March 26, 2008. RE: Take-Two board rejects EA's 'inadequate'...bids
26vGInfidel posted on Take-Two Interactive, Inc. (TTWO) at 6:27AM PST on March 26, 2008. Article: Take-Two board rejects EA's 'inadequate'...After reviewing EA's recent and "unsolicited" tender offer to nab shares in the Grand Theft Auto publisher at $26 a piece, Take-Two's board of directors has deemed the maneuver "inadequate in multiple respects and contrary to the best interests of Take-Two's stockholders." The board advises stockholders to hang on to their shares, claiming the offer "substantially undervalues" the company.[ Oracle ] [ Level 22 ] [ Rank: 150 ]
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Yeah, I agree. This gamble (rejecting EA's offer) is a two sided sword. If board is right, GTA4 "super duper fantastic" sales # can increase the shares beyond the $26. If the board is wrong, and GTA4 sales are only "fantastic, greatly increased, but still below market expectation", the stock price will go down, and EA's new offer (IF it came at all, since EA may just decide to forget about it) might be significantly below $26.