Take-Two & EA Enter Cone Of Silence
The halls of two of gaming's greatest publishers are shrouded in silence and secrecy today as EA and Take-Two begin secret negotiations. Respective CEOs John Riccitiello and Strauss Zelnick seem to have put down their dueling lightsabers for the moment to ponder the essential question: to merge or not to merge?
Like a patriarch approving of an unusual marriage, the FTC decided not to stand in the way of the two coin-cross'd lovers, and EA will now begin to examine Take-Two's pantry in greater detail. T2's game schedule over the next few years must contain the requisite Bioshock and GTA sequels, but who knows what else one of T2's tentacular arms might be cooking up?
Yesterday EA made a filing with the SEC:
On August 25, 2008, [EA] and [T2] entered into the confidentiality agreement contemplated by the letter of August 17, 2008 from Strauss Zelnick, Executive Chairman of the Board of Directors of Take-Two to John Riccitiello, Chief Executive Officer of EA, and the letter of August 18 from Mr. Riccitiello to Mr. Zelnick.
The terms of the confidentiality agreement prohibit each of EA and Take-Two from, among other things, publicly disclosing the status or terms of any discussions or negotiations between EA and Take-Two unless EA or Take-Two notifies the other that it is terminating discussions. As a result, EA does not intend to make any further announcements regarding the status of any discussions or negotiations with Take-Two unless and until discussions between EA and Take-Two have been terminated or such parties have entered into a transaction. As previously disclosed, EA now requires due diligence to support any proposal to acquire Take-Two and there can be no assurance that any proposal, negotiations or transaction will result.
For those vocal gamers who don't want to see any such thing as a merger or acquisition take place between EA and T2, at least EA has stopped making public offers and begun what sounds like a more egalitarian dialog. Right?
EA & Take-Two Begin Secret Negotiations [GamePolitics]
tiny dancer
Posted to Hot Stuff, Miscellany on 26 August 2008
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Other stuff like this: ea, john riccitiello, merger, negotiations, strauss zelnick, t2, take-two
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