Take-Two Won't Be Merging With Anyone, Thanks

Illustration for article titled Take-Two Won't Be Merging With Anyone, Thanks

For a while there, it seemed like Take-Two would be bought by EA. And if not by EA, then they'd either be bought, or be merged with, somebody. Guess they had a change of heart! Because they've just released a statement saying that they'll be going it alone:

Following detailed discussions with various interested parties over the last five months, 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.

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Reason being that, since GTA IV came out, things have been going so well that they figure they can survive those single friday nights at home, alone, wth nothing but a bottle of red and a mangy old cat for company.

New York, NY – October 2, 2008 – Take-Two Interactive Software, Inc. (NASDAQ:TTWO) announced today that it has completed its review of strategic alternatives for the Company. Following detailed discussions with various interested parties over the last five months, 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. "Take-Two's Board of Directors and management have a clear mandate from stockholders to maximize value," said Strauss Zelnick, Chairman of the Board of Take-Two. "We are strongly positioned creatively, financially and competitively to benefit from the opportunities we see in the fastest growing segment of the entertainment industry. Our management and outstanding and talented employees have maintained an unwavering focus on our products and our business through this lengthy strategic review process and we are confident in our prospects. We remain focused on maximizing value for stockholders and are executing on our business strategies in a determined manner." Ben Feder, Chief Executive Officer of Take-Two added, "Take-Two's recent performance demonstrates our potential to create value for the long term. We have delivered solid financial results and expanded our portfolio of leading titles, which includes the powerful Grand Theft Auto franchise, as well as 15 other wholly owned brands with sales of more than one million units each. Our strong cash position – with no debt and an undrawn $140 million credit facility – gives us the financial flexibility to continue to do what we do best: innovate and create the great games that our customers have come to expect."

DISCUSSION

Android86751
Android8675

Take 2 are a bunch of idiots, Only people that oppose the merger aren't the game makers, it's the lawyers who know that their jobs are on the line because EA has enough monkeys in those positions.

Game Developers, as in the creative ones stand only to gain in a merger, results in better games, and more time to make them because of less overhead, oh and the #1 distribution channels for video games in North America.

I don't work at EA, nor Take 2, but hello, wake up and smell Business 101 people! QA, Middle Management, Lawyers, HR, QA, and all the non-creatives at Take 2, why not just apply at EA now and save yourself the hassle of applying for unemployment. idiots.