EA: Take-Two bid was "waste of ink"

9 Comments

Electronic Arts boss John Riccitiello apparently has no regrets over failing to acquire GTA IV publisher Take-Two, after chasing the company for nine months in an attempt to seal a $2 Billion bid.

Speaking in the Wall Street Journal, Riccitiello dismissed the whole Take-Two affair as "a waste of ink, primarily in the New York Post", and explained that EA walked away because "time was of the essence, because we wanted to impact holiday 2008 sales of Grand Theft Auto IV."

Incredibly, the CEO described the attempt to buy Take-Two as almost a charitable effort, "to help that company get through what has been an uneven profit experience." Not just to get some of that GTA money then, oh no.

After EA canned its $2 Billion offer Take-Two said that has officially ended all discussions with "various interested parties," opting to remain an independent publisher.

Take-Two boss Strauss Zelnick stated that his company is "strongly positioned creatively, financially and competitively..."

According to BMO Capital Markets EA seems to have come out on top, telling the Wall Street Journal that it doesn't think EA will be affected by the botched deal, and that it doesn't believe "there is another serious bidder for Take-Two in the short term."

Andy Robinson