Featured Articles

IHS teardown reveals Galaxy S5 BOM

IHS teardown reveals Galaxy S5 BOM

Research firm IHS got hold of Samsung’s new flagship smartphone and took it apart to the last bolt to figure out…

More...
Galaxy S5, HTC One M8 available selling well

Galaxy S5, HTC One M8 available selling well

Samsung’s Galaxy S5 has finally gone on sale and it can be yours for €699, which is quite a lot of…

More...
Intel lists Haswell refresh parts

Intel lists Haswell refresh parts

Intel has added a load of Haswell refresh parts to its official price list and there really aren’t any surprises to…

More...
Respawn confirms Titanfall DLC for May

Respawn confirms Titanfall DLC for May

During his appearance at PAX East panel and confirmed on Twitter, Titanfall developer Respawn confirmed that the first DLC pack for…

More...
KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 gained a lot of overclocking experience with the GTX 780 Hall of Fame (HOF), which we had a chance to…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Friday, 03 October 2008 07:26

Take-Two shrugs off EA acquisition

Written by David Stellmack

Image

Will attempt to remain independent

Take-Two Interactive Software, Inc. has said that it plans to remain an independent company. Until last month, Take-Two was a hostile takeover target by Electronic Arts for nearly the past five months. Take-Two, the manufacturer and developer of the "Grand Theft Auto" video game series, has said that its decision followed detailed discussions with "various interested parties." 

Take-Two issued a statement that said, "Take-Two's Board of Directors has determined that it is in the best interests of stockholders to conclude its review of strategic alternatives and to continue operating and building Take-Two as an independent company." While Take-Two has said it was weighing its options with other suitors, it is not known who the other interested parties may be.

EA had proffered a hostile bid worth nearly $2 billion, and Tale-Two rejected that bid as inadequate. While some analysts have cautioned about potential declining sales and risks in the event the company loses key employees, Take-Two’s Chairman, Strauss Zelnick, reiterated that the company is still on solid ground, as it still has hugely successful video games such as Bioshock and its 2K Sports series.

According to Zelnick, "We are strongly positioned creatively, financially and competitively to benefit from the opportunities we see in the fastest growing segment of the entertainment industry."
Last modified on Saturday, 04 October 2008 05:58
blog comments powered by Disqus

To be able to post comments please log-in with Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments