Gamernode: News - Take-Two rejects EA's $2 billion buyout offer

Take-Two rejects EA's $2 billion buyout offer

Over the weekend, EA dropped a major bombshell by offering $2 billion USD for video game publisher Take-Two Interactive. Thankfully, Take-Two denied the offer and went on to label the proposal as "inadequate" and "unsolicited".

But that doesn't mean the ordeal is over; Take-Two's board of directors refused the offer but they're willing to negotiate with EA after the release of GTA IV, according to GamesIndustry.biz. Despite several successful franchises under its belt, Take-Two has been struggling financially over the past few years.

Strauss Zelnick, executive chairman of Take-Two, regarding future offers said, "We believe this offer demonstrated our commitment to pursuing all avenues to maximise stockholder value, while we believe that EA's refusal to entertain this path is evidence of their desire to acquire Take-Two at a significant discount, whereas we believe this value rightly belongs to our stockholders."

In the wake of the news, EA launched a website dedicated to acquiring Take-Two, which you can view here. It goes over plenty of eyebrow-raising questions including the possibility of an EA shutdown of any of Take-Two's subsidiaries, so speculate away!

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