Take Two makes profitable decision.
February 28th 2008 13:41
Grand Theft Auto’s publisher, Take Two’s decision to not merge with EA has seen their stocks rise above EA’s offer!
EA offered recently to buy Take Two’s stocks for $26 per share, however the deal was rejected and now Take Two’s share was recorded at $26.89 per share last Monday.
According to the Brisbane Times, Take Two’s stock closed at $15.83 on February 15, two weeks ago.
Take Two’s chairman, Stauss Zelnick, comments on the company’s decision on the offer.
“(EA’s offer) comes at absolutely the wrong time given the crucial initiatives underway at the Company.”
A possible reason for EA's timing could be to capitalise on the expected mass-gaming frenzy that will occur on the release of Grand Theft Auto 4 on April 29.
Great news for Take Two but a bummer for EA. Now we can be certain to Grand Theft Auto 4 without the EA logo on it.
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