The drawn out affair between Electronic Arts and Take-Two has been long and predominantly boring, with the former attempting all sorts of chicanery to acquire the latter. It seems that for now at least, the dodgy dealings are halting, as EA’s most recent tender offer for Take-Two stock expired at midnight, and is not being renewed.
So far, there’s no information as to why the offer isn’t being renewed. It could be that EA has what it needs to take control of the company, or it could be that the company will revise its offer and make a new one. EA CEO John Riccitiello has himself said that things have dragged on so long that an acquisition now would reap no holiday period rewards, so maybe it’s just not worth the effort and money now.
Despite all this, it’s known that EA and Take-Two are at least talking. Riccitiello has been speaking with Take-Two Chairman Strauss Zelnick, and the latter has invited the former and his executives to a secret presentation discussing T2’s release schedule up to 2011. They may also have discussed the overthrow of America and the return of The Illuminati to power, but that’s mere speculation.
So, it looks like all’s quiet on The Western Front for now, but it probably won’t be the last we hear of this. Whether EA finally manages to seize Take-Two or not, I’m sure that talk of big mergers will happen again soon, as the industry continues to take shape.
Published: Aug 18, 2008 08:03 am