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Take-Two Banks on Gruesome “Grand Theft Auto†Sales in Fending Off EA Bid
The jury is still out on whether or not Take-Two Interactive Software Inc.’s (TTWO) “Grand Theft Auto IV” has met analysts’ expectations in outselling Microsoft Corp.’s (MSFT) marquee “Halo 3,” a game that set sales records last September.
But if “GTA4” does meet with the commercial and critical success that’s been so highly anticipated, it could significantly shift the balance of power in takeover discussions, or a lack thereof, between Take Two and rival Electronic Arts Inc. (ERTS).
EA, owner of the ever-popular “Madden NFL” and “The Sims” franchises, originally made a $2 billion (or $26 per share) offer…
1May2008 | Money Morning | Comments Off | Continued
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