EA took out a $1 billion dollar loan for Take Two Acquisition.

Dyne · 05-09-2008, 07:40 PM

This makes me sick.

Quote:

SEC filings have revealed that Electronic Arts borrowed $1 billion from Morgan Stanley and other lenders to help finance a possible acquisition of Take-Two. "There's no news here," said EA VP of communications Jeff Brown. "This is just a process point on something we announced in February."
With $2.3 billion on hand in cash, cash equivalents and short-term investments, EA already has the funds available to do the deal as it currently stands. With the deal not contingent on financing, why borrow more money?
"It helps us maintain maximum flexibility for any opportunities," said Brown.
Take-Two had no comment as of press time.

http://kotaku.com/389174/ea-takes-ou...wo-acquisition

Good news for TakeTwo, though, as it was earlier announced that POTC director Gore Verbinski is directing the Bioshock movie. Sweet!

Aladuf · 05-09-2008, 08:12 PM

ugh... EA owns everything. Fuck that.

Bond · 05-09-2008, 08:42 PM

Why does this make you sick?

Professor S · 05-09-2008, 08:48 PM

I actually think EA has been very good at managing their individual brands... individually. So I don't think a take over would hurt Take Two's brands in the least.

Typhoid · 05-09-2008, 09:01 PM

I for one, welcome our new ant overlords.

GameMaster · 05-09-2008, 10:53 PM

Gosh, 1 billion is a lot of money!

Dylflon · 05-10-2008, 01:11 PM

Quote:

Originally Posted by Typhoid

I for one, welcome our new ant overlords.

<3

Dyne · 05-10-2008, 03:58 PM

Quote:

Originally Posted by Bond

Why does this make you sick?

Well, the fact that it's a hostile takeover and they've chosen to plant a story about them TAKING OUT A BILLION DOLLARS. I'd say it's complete dickwaggery and I am not looking forward to EA trax in my Bioshock prequel or GTAIV2.

I don't see why they NEED to control everything. It's just comical how insecure they're getting now. Next they're going to buy Wii Sports because it impedes on their territory!

Seriously though, a story about them taking out money to buy a company? Who's going to be excited about that?

KillerGremlin · 05-11-2008, 01:47 AM

i think it's kind of bogus how EA bought rights for the NFL and stuff, thus making any competition for sports games nonexistent

otherwise, anything that EA actually develops/makes usually ranges from crappy to average

the stuff they just produce/put their logo on/market is usually pretty good

i don't mind giving props to the furor, heil EA!

without using their monopoly, EA has yet to make a game better than something the competition has to offer....kinda an interesting thing to note.

Dyne · 05-11-2008, 01:57 AM

Kind of like Luxottica, the eyeglass company. They were a mediocre Italian company started in the 60s-70s but they played their cards right and they pretty much own everything. Ray-Ban, Persol, Lenscrafters, Pearlevision, Sunglass Hut, etc. It's pretty nuts.