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Post by Steve Farrelly @ 03:49pm 25/02/08 | 12 Comments
Electronic Arts has put in an aggressive bid to buyout Grand Theft Auto publisher, Take-Two, offering a whopping USD 2 billion dollars. According to the offer is 63% higher than what Take-Two's premium closed out at over the previous 30 days suggesting EA really want the buyout to occur. Take-Two, however, have turned down the offer despite being in bad financial shape. In response to the refusal, EA are keeping the bid open and have personally contacted Take-Two's shareholders to make them aware of the enormous figure they are offering, with EA CEO John Riccitiello stating; "Our all-cash proposal is a unique opportunity for Take-Two shareholders to realise immediate value at a substantial premium, while creating long-term value for EA shareholders." He also suggested the development branches of Take-Two would benefit from EA's rich resources and said the forthcoming release of GTA IV would also strongly benefit from a buyout.

According to the article, a conference call for further talks of the offer will occur on Monday the 25th in the US (so we'll know more tomorrow), but if this bid is finally accepted it could be one of the biggest moves from EA in the wake of key rival Activision teaming up with Blizzard and Vivendi Games. Here's hoping nothing changes for key 2K and Rockstar franchises such as BioShock, GTA, Midnight Club and Mafia at the hands of the mammoth EA if this thing happens.

EABuyoutTake-Two2K GamesGTA IV

Latest Comments
Posted 05:00pm 25/2/08
damn I hate EA Games.
Posted 08:23pm 25/2/08
f*** ea in the eye with a fork
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