EA’s Take-Two Bid Rumblings

The opinion pieces on EA’s takeover big on Take-Two continue to pile up, but in the meantime interesting statements are coming in from involved companies. On the one hand, Take-Two claims other companies are also interested:

In a filing with the Securities and Exchange Commission the publisher said it had received “informal indications of interest in a business combination,” but that it hadn’t (engaged in any substantive discussions with any party (including EA) with respect to a business combination.”

Take-Two added that it doesn’t plan to update shareholders on any merger discussions unless it is legally required to do so.

On the other hand, the Activision CEO stated about Take-Two (a company that has been posting losses for some time now) that it isn’t even worth buying.

Kotick stated that they wanted to merge with a company that had, among other things, “a history of profitability, good management, proprietary technology, or a franchise history of multi-million unit sellers.” Kotick stated that in their opinion, “Take-Two didn’t fulfill those requirements. Maybe it does over the long-term for EA, but it doesn’t for us.”