Take-Two Interactive Gives Up on Being Bought

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Take-Two InteractiveWhen Electronic Arts finally walked away from its efforts to acquire Take-Two Interactive, Take-Two Interactive declared that it was "actively engaged in discussions with other parties in the context of our formal process to consider strategic alternatives." Today, Take-Two Interactive declared that those discussions didn't pan out.
Take-Two Interactive announced that "Following detailed discussions with various interested parties over the last five months, Take-Two's Board of Directors has determined that it is in the best interests of stockholders to conclude its review of strategic alternatives and to continue operating and building Take-Two as an independent company."

In other words, the EA buyout wasn't a big enough payout for Take-Two Interactive's management and investors. But, as FI predicted, there weren't other suitors interested in paying even more. Especially in the current dismal economic environment, with less accessible credit, Take-Two is unlikely to get a better offer. Take-Two Interactive's management is just going to have to prove that they know how to run the company themselves.

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This page contains a single entry by Editor published on October 2, 2008 5:09 AM.

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