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Grand Theft Shareholder

An article on CNBC.com analyzes three attempted tech-sector mergers that failed this year, examining Microsoft's unsuccessful attempt at acquiring Yahoo!, Samsung's failed SanDisk bid, and Electronic Arts' high-profile run at Take-Two, referring to the failures of these deals as "fiduciary stupidity." He recaps the EA/Take-Two deal, referring to Take-Two's rejection of a $26.00/share bid as "Grand Theft Shareholder" in light of the company's current sub-$10.00/share value. Here's the analysis of what went down: "I posted then that unlike Yahoo, Take-Two was in a strong negotiating position with the upcoming release of the latest 'Grand Theft Auto' installment coming to market. But CEO Strauss Zelnick had to know that his company's 'position of strength' had a limited shelf life. Yet he and his board held out for more. Postured. And the posturing only got louder as Zelnick's position got crumbled beneath him."

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