Mafia Creator Sells Take-Two Stock - EA Moves Cut Off Date
More shenanigans in GTA IV lead-up
April the mutha-lovin' 17th? I shit it!
The ongoing war between Electronic Arts and Take-Two Interactive's management in the lead-up to the launch of GTA IV has entered another phase with both the chairman and CEO of Mafia creaor, Illusion Softworks, putting up a total of 745,303 shares in Take-Two for sale.
Founder and CEO, Petr Vochozka, has registered his full holding of 557,848 shares. Chairman, Jan Kudera, is taking some 187,455 shares to market.
Czech Republic-based Illusion Softworks was acquired by Take-Two subsidiary, 2K in January this year in order to become 2K Czech.
Let's give this a bit more context. The offer of stock by the two 'Illusionists' could simply a matter of timing, with their stock options having just 'vested (e.g. become available for sale). A note attached to the relevant document also points out that the "Proposed Maximum Offering Price Per Share" is $25.74 - less than the $26 per share offered by EA.
This proposed selling price is, however, merely a convenient estimate used by Take-Two. It is, in fact, "Estimated solely for the purpose of calculating the registration fee...".
Less complicated - but more games-like - is the fact that EA has responded to Take-Two's board moving its annual general meeting date. As we reported on March 26th Take-Two's AGM was moved from April 10th (a day before EA's cut-off point for it's $26 per-share take-over tender) to April 17th. Not to be out-done on the brinkmanship front, EA has now moved the cut-off date to... April 18th.
This means that Take-Two board members will have to face down shareholders worried that they could lose out on the $26 (£13) per-share offer. Big business, eh? It's like watching a game of chess... played by monkeys.
Founder and CEO, Petr Vochozka, has registered his full holding of 557,848 shares. Chairman, Jan Kudera, is taking some 187,455 shares to market.
Czech Republic-based Illusion Softworks was acquired by Take-Two subsidiary, 2K in January this year in order to become 2K Czech.
Let's give this a bit more context. The offer of stock by the two 'Illusionists' could simply a matter of timing, with their stock options having just 'vested (e.g. become available for sale). A note attached to the relevant document also points out that the "Proposed Maximum Offering Price Per Share" is $25.74 - less than the $26 per share offered by EA.
This proposed selling price is, however, merely a convenient estimate used by Take-Two. It is, in fact, "Estimated solely for the purpose of calculating the registration fee...".
Less complicated - but more games-like - is the fact that EA has responded to Take-Two's board moving its annual general meeting date. As we reported on March 26th Take-Two's AGM was moved from April 10th (a day before EA's cut-off point for it's $26 per-share take-over tender) to April 17th. Not to be out-done on the brinkmanship front, EA has now moved the cut-off date to... April 18th.
This means that Take-Two board members will have to face down shareholders worried that they could lose out on the $26 (£13) per-share offer. Big business, eh? It's like watching a game of chess... played by monkeys.
Companies:
Illusion Softworks
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Comments
PreciousRoi 1 Apr 2008 07:12
1/1
...played by monkeys via Blackberry™...