Take-Two Rejects EA 2 billion dollars bid

EA of the offer to purchase “Grand Theft Auto IV” publisher rejected.

Electronic Arts, the publisher of video giant, last week during the Game Developers Conference proposed making Take-Two Interactive. It was reported the proposal to include an offer of 26 US dollars per share of Take-Two, making the deal with a total of about $ 2 billion.

According to reports, EA Take-Two previously offered $ 25 per share, bringing the latest bid of $ 1 more a sign of AD remains interested in a merger. But Take-Two EA has rejected the best offer.

In press release sent on Sunday, Take-Two Interactive confirmed that EA has rejected the offer to acquire the company for $ 26.

“After careful evaluation, the Board has determined that the proposed EA substantially underestimates Take-Two solid and stable game enviable franchises, exceptional creative talent and strong customer loyalty,” reads the statement Take-Two Interactive. “We believe the offer unsolicited EA is very opportunistic and is trying to take advantage of our next version of Grand Theft Auto IV, one of the most valuable and enduring franchises in the industry.”

While stocks of Take-Two Interactive currently at about $ 17, the company was not entertained by EA of the offer of $ 26. “In addition, the offer values the company at a significant discount to its peers and the public does not compensate-Take two for their intrinsic value and the substantial synergies that the proposed combination would create,” added Take-Two.

EA CEO John Riccitiello said of the bid, “there can be no certainty that future EA or any other buyer would pay the same high premium being offered today.”

It is a merger between EA and Take-Two to take place, sports fans Mai suddenly found their options halved. The only major competitor against EA Sports franchises is Take-Two of 2K Sports.

Earlier this month, Riccitiello promised that developers and EA properties would be better served and less asphyxiated that previous acquisitions as Westwood and Origin.

Take-Two’s most valuable asset is its close relationship with Rockstar Games, which contract expires this year. It is expected, however, Rockstar Games to renegotiate a new agreement with Take-Two Interactive.