N'Gai Croal
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May 19, 2008 09:49 AM
John Cusack in the 1989 film "Say Anything," courtesy EW.com
Diane: I just can't have any social life right now.
Lloyd: Don't worry about it. We're just having coffee. We'll be anti-social.
Diane: Be friends?
Lloyd: Yeah. With potential.
--Diane Court (Ione Skye) and Lloyd Dobler (John Cusack) in "Say Anything"
We've always been told that persistence is an essential element of
success. So as Friday's deadline for shareholders in Take-Two to accept
Electronic Arts' tender offer came and went, we wondered whether EA
would give up or stand firm. Today, we got our answer, in the form of a
press release: stand firm. The official explanation is that by
extending the offer for another month, EA "will allow the FTC [Federal Trade Commission]
review process to
continue," according to Owen Mahoney, EA's senior vice president for
corporate development. We also learned from the press release that EA
has only secured 6.2 million shares of Take-Two stock via tender, out
of 73.1 million shares outstanding. Clearly this will not do. But how to put this in perspective for you, Dear Reader?
As
our love of film here at Level Up is well documented, allow us to
describe this in movie terms: like John Cusack in the 1989 classic "Say
Anything," EA will stand beneath Take-Two's window, blasting Peter
Gabriel's "In Your Eyes,"
for as long as it takes for Strauss Zelnick and company submit to its,
uh, tender embrace. We don't have a dog in this fight, but if EA and
Take-Two could join forces like Gabriel and Youssou N'Dour and together make sweet, sweet games, wouldn't that be a beautiful thing?
To read EA's press release in its entirety, click on the link below.
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