Electronic Arts Offers $2B For Take Two

quanticle writes "The New York Times is reporting that EA has offered $2B for Take Two Entertainment. The effort appears to be a move to consolidate the two companies before Take Two releases the next iteration of its blockbuster franchise, Grand Theft Auto 4. Take Two has politely declined the offer."

Phew

[mark72005]

I read another article where an EA bigwig was dismayed by EA's consistently low ratings at metacritic and other sites. Seems like a transparent attempt to eliminate competition with their crappy sports games.

Re:Oh God no....

[esrobinson]

Madden has been the only football game out there since they purchased the exclusive license from the NFL.

REJECTED

[Zaffo]

The latest word is that Take-Two Interactive's Board of Directors has rejected EA's offer: http://biz.yahoo.com/bw/080224/20080224005068.html [yahoo.com]

Take-Two's Board of Directors has thoroughly reviewed EA's unsolicited proposal with the assistance of its independent financial and legal advisors and concluded that the proposal is inadequate in multiple respects and not in the best interests of Take-Two's stockholders.

Hostile Takeover

[jagdish]

EA will move in for hostile takeover [gamespot.com]. This is unrelated to GTA4. EA wants to eliminate 2K Sports.