News Room Contributor Posts: 3809 Joined: 12 Nov 2002 | EA Begins Tender Offer For Take-Two
Electronic Arts has stepped up its campaign to acquire Take-Two Interactive by announcing a tender offer for all outstanding shares of common stock in the company.
The company is maintaining its offer of $26 per share, according GamesIndustry, which represents a 64 percent premium of the company's stock price of February 15, the day before EA made its offer to buy out the company. The tender offer will remain open until April 11.
"This is a great opportunity for Take-Two shareholders. We believe Take-Two investors will see our tender offer as the best way to maximize the value of their investment in Take-Two. This tender offer provides a clear process to complete the proposed transaction," said Electronic Arts CEO John Riccitiello. "For EA shareholders, the combination would add additional intellectual properties to our already strong portfolio and welcome Take-Two's talented creative teams to the great development organization we've built at EA."
A tender offer is a public, open offer made directly to a company's shareholders, who are given the opportunity to sell their stock at a fixed price during a specific time period. Tender offers are a commonly-used tactic during hostile corporate takeovers, allowing firms to acquire stock in a company even if the takeover target's board of directors does not approve of the acquisition.
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Reviewer Posts: 93 Joined: 13 Feb 2007 | How much stock is owned by shareholders? Could this lead to buying out of half of the company? |
News Room Contributor Posts: 148 Joined: 22 Aug 2007 | alexhayter86:
How much stock is owned by shareholders? Could this lead to buying out of half of the company?
Absolutely. It's indicative of a hostile takeover and Take Two is a public company (meaning it is essentially owned by its shareholders). If EA acquires more than half the stock, it will essentially own Take Two. |
Gone Gonzo Posts: 1345 Joined: 14 Nov 2007 | Oh for god's sake, could EA possibly make themselves more unlikeable? |
Copy Clerk Posts: 122 Joined: 1 Mar 2006 | j-e-f-f-e-r-s:
Oh for god's sake, could EA possibly make themselves more unlikeable?
yes. they could dissolve take two after they take it over. |
Muckraker Posts: 336 Joined: 13 Jul 2006 | j-e-f-f-e-r-s:
Oh for god's sake, could EA possibly make themselves more unlikeable?
Caolinn:
yes. they could dissolve take two after they take it over.
Or they could do Grand Theft Auto 2009, Grand Theft Auto 2010... pineapple shrimp, lemon shrimp, coconut shrimp, pepper shrimp, shrimp soup, shrimp stew, shrimp salad... ;-) |
Gone Gonzo Posts: 1255 Joined: 5 Dec 2007 | I like Coconut shrimp! Please include it in GTA 2015. |
Gone Gonzo Posts: 1345 Joined: 14 Nov 2007 | Caolinn:
j-e-f-f-e-r-s:
Oh for god's sake, could EA possibly make themselves more unlikeable?
yes. they could dissolve take two after they take it over.
Don't jinx it... |
EA Begins Tender Offer For Take-Two
Electronic Arts has stepped up its campaign to acquire Take-Two Interactive by announcing a tender offer for all outstanding shares of common stock in the company.
The company is maintaining its offer of $26 per share, according GamesIndustry, which represents a 64 percent premium of the company's stock price of February 15, the day before EA made its offer to buy out the company. The tender offer will remain open until April 11.
"This is a great opportunity for Take-Two shareholders. We believe Take-Two investors will see our tender offer as the best way to maximize the value of their investment in Take-Two. This tender offer provides a clear process to complete the proposed transaction," said Electronic Arts CEO John Riccitiello. "For EA shareholders, the combination would add additional intellectual properties to our already strong portfolio and welcome Take-Two's talented creative teams to the great development organization we've built at EA."
A tender offer is a public, open offer made directly to a company's shareholders, who are given the opportunity to sell their stock at a fixed price during a specific time period. Tender offers are a commonly-used tactic during hostile corporate takeovers, allowing firms to acquire stock in a company even if the takeover target's board of directors does not approve of the acquisition.
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