It would appear that Take-Two Interactive's shareholders are not going to be baying for an Electronic Arts take-over at this evening's Annual General Meeting.
According to a company release this afternoon, "Take-Two Interactive Software, Inc today announced that stockholders of Take-Two did not submit any proposals for consideration at the Company's Annual Meeting of Stockholders, which will be held on Thursday, April 17, 2008 at 6:30 p.m. Eastern Time.
"The period of time for stockholders to be able to nominate persons for election to the Board of Directors or
to propose any business to be considered at the upcoming Annual Meeting expired on April 15, 2008."
What this means is that non of T2's big shareholders are likely to stand up during the AGM and demand that - just weeks prior to the launch of GTA IV - the company is handed over for $26 (£13) per share. The April 29th launch date for the game is likely to see Take-Two's stock price rocket.
In a game of financial cat'n'mouse, last month Take-Two moved its AGM date from April 10th (the day befor EA had said its offer would lapse) to April 17th (reported here). We said at the time that this would force EA to move its cut-off date. It did so (reported here); moving its date to... April 18th. We speculated at the time that EA's move would put pressure on T2's board during the AGM with shareholders demanding change.
It appears this will not be the case. However, events unfolding at the W Hotel, Union Square, New York City on Thursday night (well, 6:30pm local time) will really tell the tale.
According to a company release this afternoon, "Take-Two Interactive Software, Inc today announced that stockholders of Take-Two did not submit any proposals for consideration at the Company's Annual Meeting of Stockholders, which will be held on Thursday, April 17, 2008 at 6:30 p.m. Eastern Time.
"The period of time for stockholders to be able to nominate persons for election to the Board of Directors or
to propose any business to be considered at the upcoming Annual Meeting expired on April 15, 2008."
What this means is that non of T2's big shareholders are likely to stand up during the AGM and demand that - just weeks prior to the launch of GTA IV - the company is handed over for $26 (£13) per share. The April 29th launch date for the game is likely to see Take-Two's stock price rocket.
In a game of financial cat'n'mouse, last month Take-Two moved its AGM date from April 10th (the day befor EA had said its offer would lapse) to April 17th (reported here). We said at the time that this would force EA to move its cut-off date. It did so (reported here); moving its date to... April 18th. We speculated at the time that EA's move would put pressure on T2's board during the AGM with shareholders demanding change.
It appears this will not be the case. However, events unfolding at the W Hotel, Union Square, New York City on Thursday night (well, 6:30pm local time) will really tell the tale.
Companies:
Take 2
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Comments
SuperSaiyan4 17 Apr 2008 11:33
1/2
With the amount of money Take Two and Rockstar will make from GTA 4 I very much doubt they will ever need to give into EA.
EA know they have nothing new to offer gamers and since EA don't know how to make games and are even ruining other franchises they have bought out EA is like a decease they should just shut down or something.
EA know they have nothing new to offer gamers and since EA don't know how to make games and are even ruining other franchises they have bought out EA is like a decease they should just shut down or something.
Joji 17 Apr 2008 11:56
2/2
Excellent news T2 people. Don't let EA take your cake, that you worked so hard to make.
EA have enough bloody games under their wing now anyway, with all the developers they've feasted on..
EA have enough bloody games under their wing now anyway, with all the developers they've feasted on..