I don't think the shareholder realizes the plus side of what Zelnick has done. Basically, they have prepared their company to screw over EA should a hostile buyout occur which in turn makes the deal much less enticing for EA. Thus, Take-Two keeps control of the company while simultaneously boosting their stock's worth.
And should EA be stupid enough to go through with it anyway, the proprietors of Take-Two would then have the necessary capital to start another firm and take their employees with them leaving EA with nothing but a name and some IP.
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