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EA launches effort to buy Take Two for $2 billion - make your own Dr. Evil joke

Posted by: Chuck at 2/24/2008 2:35 PM
Electronic Arts has launched a hostile takeover bid for Take Two Interactive for around $2 billion and change.  This would be enough to help EA regain the #1 publisher title they lost last year to Activision.  Take Two has been a rumored take over target for the last two years and this is the first confirmed offer that we've seen. 

From the looks of the press release Take Two has rejected this offer so EA is going to have to take it to the shareholders.

The long range industry implications are huge as it means that EA would be the dominant player in the sports worlds as they would 2K Sports as part of the deal and it would give them the Grand Theft Auto franchise and all the legal headaches that come with it.  It's certainly a bold move but it does put a bit of a damper on all the good will EA has built up over the last year or so.

Thanks to GamePolitics for the link