After a seven month period, the EA takeover talks with Take-Two Interactive have finally come to a close. EA has officially walked away from talks, leaving Take-Two Interactive free to do as they wish.
Take-Two is currently looking at other potential offers, but nothing has been announced just yet.
In the wake of the announcement, Take-Two's stock prices have plummeted nearly 25% from $21.89 USD down to $16.43. EA's stock also dropped, but only by about 2%.
As if that weren't enough, it seems as though the two main brains behind the Grand Theft Auto series and Rockstar Games founders, Sam and Dan Houser, may be heading elsewhere when their contracts expire in February.
They were the major players that determined the direction the GTA games went, and right now Take-Two faces either losing them to a higher bidder or paying more to keep the dynamic duo on board. If lost, future GTA games may never be the same again.
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According to the press release issued by the interested buyer, following a "management presentation and review of other due diligence materials provided by Take-Two," EA says it has opted not to make a new proposal to acquire Take-Two and has ended talks. It was rumored to have done so last week.
Take-Two issued comment on the news immediately following EA's announcement, writing “We remain focused on creating value for our stockholders and our consumers. This has been our goal since EA launched its conditional and unsolicited bid six months ago, a bid which was repeatedly rejected by our stockholders."
Take-Two issued comment on the news immediately following EA's announcement, writing “We remain focused on creating value for our stockholders and our consumers. This has been our goal since EA launched its conditional and unsolicited bid six months ago, a bid which was repeatedly rejected by our stockholders."
Take-Two is currently looking at other potential offers, but nothing has been announced just yet.
In the wake of the announcement, Take-Two's stock prices have plummeted nearly 25% from $21.89 USD down to $16.43. EA's stock also dropped, but only by about 2%.
As if that weren't enough, it seems as though the two main brains behind the Grand Theft Auto series and Rockstar Games founders, Sam and Dan Houser, may be heading elsewhere when their contracts expire in February.
They were the major players that determined the direction the GTA games went, and right now Take-Two faces either losing them to a higher bidder or paying more to keep the dynamic duo on board. If lost, future GTA games may never be the same again.
Source, Source, Source