Zelnick: We're "Actively Engaged" In Talking To Potential Acquirers

Illustration for article titled Zelnick: Were Actively Engaged In Talking To Potential Acquirers

Take-Two is discussing possible acquisitions with interested parties right now, Board chairman Strauss Zelnick said on the company's financial results call today.

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"At the time of EA's highly conditional, unsolicited tender offer, we emphasized our board's commitment to explore all strategic alternatives, including remaining independent, and pursuing business combinations with third parties... we're actively engaged in that process now."

"In fact, we have had and continue to have formal discussions with a number of interested parties," Zelnick said.

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Zelnick's comments follow numerous earlier statements he'd made that Take-Two would entertain talks with Electronic Arts following April 30th, but he declined to specify in detail who the other interested parties might be or what stage the discussions were at. When questioned by an analyst, Zelnick clarified that they were "discussions, not negotiations."

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DISCUSSION

Traipse
wild homes loves you but chooses darkness!

@rockinthestocks: It was well understood that the TTWO price would jump thanks to GTA4, and that price might even be maintained for several months after the game's release, but it does not represent a permanent valuation of the company. Close to twenty percent of the stock's current value is based on this deal being done, and what it would represent— under EA's management, TTWO would be run far more efficiently. If EA pulls out this stock will tank, and knowing that the company is currently valued in such a way as to factor in EA's presence, no other company or fund will offer anything like what EA has volunteered for TTWO. As long as EA want this deal to happen, it is inevitable.