EA End Negotiations With Take Two

15 Sep 2008 at 10:55:02 by

The news EA was looking to aggressively acquire Take Two has, over the last eight months, made headlines in the industry almost every week.

The talks have finally come to an end after EA said that they were not going to pursue the take over after Take-Two repeatedly rejected their offer claiming that their company was undervalued by the publishing giant.

"Electronic Arts Inc. today announced that while EA continues to have a high regard for Take-Two's creative teams and products, after careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software Inc., EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two."

This after news that GTA IV was allegedly failing to impress in the charts, which EA says has nothing to do with their withdrawal.

Strauss Zelnick, chief boss man at Take Two has said that the company will "remain focused on creating value for our stockholders and our consumers," and that other avenues of potential "strategic alternatives" will be pursued with other parties.

We're taking bets for EA's next bid.  Email us with your predictions to editor@incgamers.com

Comment