Electronic Arts' Bid To Spice Up Its Catalog Gets Rejected

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	Electronic Arts' Bid To Spice Up Its Catalog Gets Rejected

Tina Russo

2-25-2008 10:29 AM

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tags:

electronic arts, take-two, video games, grand therft auto, madden

Tina Russo says:

Take-Two rejected Electronic Arts' takeover bid, saying it "provides insufficient value to their shareholders." ERTs wants to get deal done, in part to keep up with Activision's acquisition of Vivendi's game division. Take-Two thinks it will get a better offer after the release of the latest version of its mega hit Grand Theft Auto, which is scheduled for April.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/b832afef-20ef-4b6f-9cff-c25f1b2e9078/9C2FF0BA-754F-49FF-B0F4-E0EEDE94E394/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.theglobeandmail.com/servlet/story/LAC.20080225.RGAMES25/TPStory/Business" href="http://www.theglobeandmail.com/servlet/story/LAC.20080225.RGAMES25/TPStory/Business" style="font-size: 11px;">www.theglobeandmail.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theglobeandmail.com/servlet/story/LAC.20080225.RGAMES25/TPStory/Business"><P>The clean-cut jock of the video game world wants to take a walk on the wild side.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theglobeandmail.com/servlet/story/LAC.20080225.RGAMES25/TPStory/Business"><B>Electronic Arts Inc.</B>, which has built an empire on family friendly sports and racing games, is making a bid for <B>Take-Two Interactive Software Inc.</B>, a rival whose most popular game allows players to deal drugs, shoot police officers and murder prostitutes.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theglobeandmail.com/servlet/story/LAC.20080225.RGAMES25/TPStory/Business">The majority of EA's game are rated as suitable for children and young teenagers, according to the Entertainment Software Rating Board. However, Take-Two produces a number of games - including its top two titles, BioShock and Grand Theft Auto - which carry a "mature" rating</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theglobeandmail.com/servlet/story/LAC.20080225.RGAMES25/TPStory/Business">The $26-a-share offer is a 64-per-cent premium over Take-Two's closing stock price of $15.83 on Feb. 15, the last trading day before Redwood City-based EA made its proposal. Take-Two shares closed at $17.36 Friday.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/9C2FF0BA-754F-49FF-B0F4-E0EEDE94E394/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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