Take Two say no to EA once again

Take Two have once again revealed they are not interested in EA’s current proposal of $26 per share for their company. They have even gone as far as labelling the current bid by EA as “inadequate”. In a statement released Take Two comments “The Board also confirmed that it will explore alternatives to maximize value for stockholders, which may include a business combination with third parties or with EA, remaining independent, or other strategic or financial alternatives that could deliver higher stockholder value than the current EA offer.”

Take Two go on to comment that should the two companies merge in the future they would expect certain rules to be followed post-merger “Potential synergies related to a proposed combination include: realizing a sales uplift as a result of a broader reach of distribution infrastructure; leveraging investments in online, wireless and other evolving platforms; optimizing sports offerings; and reducing sales, general and administrative costs significantly,” were the most important according to the statement.

The full release can be viewed here if you want something long and boring to read before bedtime.