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EA's $1 Billion in Take-Two Cash

GameDaily has word that EA has secured a line of credit of up to one billion dollars to support its two billion dollar bid to acquire Take-Two. Take-Two has so far rebuffed EA's advances, but the cash is ready should an agreement be reached (or, you know, if something really cool pops up on eBay).

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21. No subject May 10, 2008, 19:22 xXBatmanXx
 
heh - sure looks like a loan to me! thx elf.

"Hay, I play to win, if you don't play to win, you play to lose - like a Liberal." - Brucie
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In this present crisis, government is not the solution to our problem; government is the problem. / Few men have virtue enough to withstand the highest bidder.
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20. Re: No subject May 10, 2008, 17:54 The Half Elf
 
Well last time I heard, EA was offering 26 bucks a share, and at the moment the stock is at 26.75 bucks a share and still climbing.

EA said Friday it has secured a commitment from Morgan Stanley(MS - Cramer's Take - Stockpickr), BNP Paribas, The Bank of Nova Scotia among others to make available up to $1 billion of loan financing any time until Jan. 9, 2009. The loan will be used to provide a portion of the funds for the merger, said the company in a filing with the Securities and Exchange Commission.

http://www.thestreet.com/_yahoo/newsanalysis/techsoftware/10416162.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

This comment was edited on May 10, 17:55.
 
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19. No subject May 10, 2008, 17:34 xXBatmanXx
 
*sigh*

I won't even get into the "line of credit" conversation, because the way it is worded and what they are calling it is somewhat shady....if they are going to us it the way they SHOULD, they would automatically have stringent controls around cash flow, new projects, etc. cash goals, etc. Anyway. There is more to it than just a "loan" or a "line of credit". Borrowing that much money is a huge liability....anyway.

It is bad news for everyone involved. The franchise will go nowhere but down if EA gets a hold of it. They don't have the ability, talent, or self control to NOT destroy it.

"Hay, I play to win, if you don't play to win, you play to lose - like a Liberal." - Brucie
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Avatar 10714
 
In this present crisis, government is not the solution to our problem; government is the problem. / Few men have virtue enough to withstand the highest bidder.
Playing: New dad
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18. MLB May 10, 2008, 17:29 Elricsi
 
I don't think they are even that interested in GTA.

What they really want is to wipe out all competition on the sports titles. No innovation and sell for whatever price they want.

 
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17. ads, ads, and more ads May 10, 2008, 16:15 Pluvious
 
Can you imagine EA salivating at the thought of how much advertising they could do in Grand Theft Auto 5 ?!!? Just think of all those ads they could have in times square in the latest version?..

To be honest, I would hope Take Two is insulted at a measly one billion hostile take-over. If ONE of their games can pull down half a billion, I would think the whole company would be worth a hella lot more!

This comment was edited on May 10, 16:16.
 
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16. Use the money on your own stuff May 10, 2008, 14:01 MrTA
 
You know I think EA and we gamer's would be better off if EA would invest this loan to their own stuff instead and make better games. Please EA at least think of it ok?

 
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15. Re: Moan moan bitch bitch May 10, 2008, 12:09 Nuclear Watchdog
 
* REMOVED *
This comment was deleted on May 10, 18:37.
 
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14. Re: Moan moan bitch bitch May 10, 2008, 12:04 Nuclear Watchdog
 
* REMOVED *
This comment was deleted on May 11, 13:23.
 
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here, took it to me, and now I'm your bitch. Happy now?" - Creston
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13. Re: Moan moan bitch bitch May 10, 2008, 04:50 mOOzilla
 
It is if they use it

If they acquire this company they are in debt by 1 billion as they need this "line of credit" to purchase them.
This comment was edited on May 10, 04:50.
 
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12. Re: Moan moan bitch bitch May 10, 2008, 04:26 Propagandhi
 
Securing a line of credit != taking out a lone...  
I eat pasta!
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11. Moan moan bitch bitch May 10, 2008, 03:27 mOOzilla
 
but you still give them money. Why not stop giving them your money if you don't like it and shut up?

Really, It IS that simple.

This line of credit is a GOOD thing, it means they are in debit of 1 billion

This comment was edited on May 10, 04:08.
 
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10. Ain't Capitalism grand? May 10, 2008, 01:43 Umbragen
 
Competition my ass.

 
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9. Man... May 10, 2008, 01:10 Parallax Abstraction
 
Just think about it, not a loan but a line of credit for a billion dollars. They pay it back and they can spend it more. That's just nuts.  
Parallax Abstraction
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8. my my. May 10, 2008, 00:15 Nucas
 
aren't they eager to get their claws into the GTA franchise.

 
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7. No subject May 10, 2008, 00:13 Pigeon
 
Its generally been my observation that when a company expands this fast they run into extreme financial troubles a few years later. Turns out when you expand on the assumption the expansion will septuple current profits and it doesn't, that's a bad thing. And seeing how EA seems to have the Midas touch, only instead of gold its poo, I won't be too surprised if it happens to them.

 
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6. Re: So let me get this straight.. May 10, 2008, 00:11 Acleacius
 
This is gonna be so great, if Take Two can hold off and force ea's end of the year numbers to show them losing money again.  
The people can always be brought to the bidding of the leaders.That is easy.All you have to do is tell them they are being attacked and denounce the pacifists for lack of patriotism and exposing the country to danger.It works the same way in any country.
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5. Re: So let me get this straight.. May 9, 2008, 23:09 DrEvil
 
EA, is borrowing money cause they keep making shitty games, so they can purchase another company, pretty much gut the company, and run it's franchises into the ground?

And that's different from what they are already doing how exactly?

 
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4. Re: So let me get this straight.. May 9, 2008, 23:05 Nuclear Watchdog
 
Freaking EA can hot in hell.
If you're going to throw a hissy fit at least make some sense when you do it.

 
================================================
"Whattadya wanna hear, that I'm your bitch? Fine. You came in
here, took it to me, and now I'm your bitch. Happy now?" - Creston
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3. Nigeria sellers May 9, 2008, 22:13 LittleMe
 
I think some Nigerian sellers might have something incredibly useful to offer EA but will only ship the product once the payment is complete, of course.

 
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Political freedom can only be preceded by economic freedom which is preceded by monetary freedom.
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2. Re: So let me get this straight.. May 9, 2008, 22:12 Will
 
Freaking EA can hot in hell.

 
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21 Replies. 2 pages. Viewing page 1.
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