Electronic Arts was frantically hunting down Niko Bellic for a year now and it finally seems they’ve given it up.
Gamasutra reports:
- “The two companies had signed a non-disclosure agreement to protect their recent closed-door talks, during which EA reviewed Take-Two’s management presentation and due diligence to see what per-share value it would support.
Though EA had said it was ‘hopeful’ that the two parties could reach an agreement, the company announced today that “after careful consideration… EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two.’
There are a few potential barriers that could have halted the merger on both sides. EA’s original $2 billion dollar offer amounted to $26 per share, but the approval of a management compensation package by Take-Two’s board relatively early in the process diluted the per-share value to $25.74, an amount chairman Strauss Zelnick repeatedly stressed was ‘inadequate.’
Take-Two’s board also adopted a “poison pill” measure that would have taken effect in the event the company was acquired, and the measure was never voted down or removed throughout the long-standing acquisition attempt.”
Well the only news to rejoice is that Grand Theft Auto is going staying violent, BioShock will be getting a dystopian sequel next year, EA still needs to compete in the sports market and Midnight Club will stay free from the Need for Speed overtures.