computerandvideogames.com has announced that Take Two and EA are to sign a confidentiality agreement which in effect means they will be going into strategic talks. Here is what they had to say:
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Take-Two says it expects to sign a confidentiality agreement with EA allowing EA to enter into Take-Two's formal process to evaluate strategic alternatives. Which basically means they're about to settle into some sort of talks.
Strauss Zelnick, chairman of Take-Two, said, "We welcome EA into our formal process and look forward to demonstrating to their Board the significant strides made by Take-Two since they last undertook a detailed review of our business in early 2007.
"Our Board remains unwavering in its belief that EA's unsolicited conditional tender offer of $25.74 per share was inadequate and undervalued Take-Two's world-class entertainment franchises and our strong operational and financial performance."
Ben Feder, CEO, added, "We are continuing to consider all alternatives that will maximize value to our stockholders. As part of that commitment, we are engaged in discussions with other parties as part of a formal process to generate greater value and will act quickly to assist EA in moving expeditiously through our process.
"In the meantime, we remain focused on executing on our business goals and creating value for stockholders and consumers of our products."
Has Take-Two caved? Could a deal be on the cards sooner then we thought? Do you care? Thoughts below.
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Strauss Zelnick, chairman of Take-Two, said, "We welcome EA into our formal process and look forward to demonstrating to their Board the significant strides made by Take-Two since they last undertook a detailed review of our business in early 2007.
"Our Board remains unwavering in its belief that EA's unsolicited conditional tender offer of $25.74 per share was inadequate and undervalued Take-Two's world-class entertainment franchises and our strong operational and financial performance."
Ben Feder, CEO, added, "We are continuing to consider all alternatives that will maximize value to our stockholders. As part of that commitment, we are engaged in discussions with other parties as part of a formal process to generate greater value and will act quickly to assist EA in moving expeditiously through our process.
"In the meantime, we remain focused on executing on our business goals and creating value for stockholders and consumers of our products."
Has Take-Two caved? Could a deal be on the cards sooner then we thought? Do you care? Thoughts below.
Source
Be sure to leave your thoughts in this thread.
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