EA still wants to buy Take 2, it’s true, and Take 2 is still playing shy. That, even though EA’s offer of $25.74 per share is now more than what Take 2 is currently trading at, $24.47. But that’s only part of the story, this on-going blah-blah-fest.
Apparently Electronic Arts has passed some sort of Federal Trade Commission test, paving the way for a possible merger.
What’ll get done first, this merger or the XM-Sirius merger, which Eric Logan, Executive Vice President of Programming at XM, said on today’s Opie and Anthony is exactly where it was when it was first announced?
Wonderful.
With 70% of TTWO held by arbitrage traders (who buy and sell shares of companies in takeover talks to make money on small price differences) Take Two boardmembers (if they really are loyal to their shareholders) should really carefully consider the option. Also with 8,500 contracts of puts at 19.85 ($19.15 to break even) you can bet TTWO will nestle for awhile at $19 if the merger doesn’t go through. Then will probably back down to 17 where it was before the offer and with the success of GTA figured in.
I dont see TTWO being around $19 for very long at all. I see it hitting 20 before the end of the weak if not 21.
Speaking of witch anyone seen the new episode of DFT News. I hate missing it right when it comes out.