After two offers made by Electronic Arts for Take Two, the end result is Take Two rejecting these offers. It was published in their statement with this headline; "AKE-TWO INTERACTIVE SOFTWARE'S BOARD REJECTS ELECTRONIC ARTS' UNSOLICITED PROPOSAL AS INADEQUATE."
EA has given reasons as to why Take Two should be bought out:
- EA believes that Take-Two's current share price already reflects investor expectations for a strong release of GTA IV as well as the longer-term issues that Take-Two faces. Once GTA IV ships, Take-Two will again be dependent on less-popular titles and face increasing challenges to compete with larger and better-capitalized competitors.
- With GTA IV shipping on April 29, development on this important title must now be essentially complete. We believe now is the right time to complete a transaction with minimal disruption for Take-Two.
In the end, Take Two has refused to accept the buy over, since they believe EA is just trying to profiteer on their upcoming released.
Original Article: TakeTwo