Take-Two for sale?

[wraggster]

Last week, the gaming industry was shocked by a Take-Two shareholders' group, which owns 46 percent of the company's stock, announcing that it wished to replace current CEO Paul Eibler with former BMG president Strauss Zelnick. It also stated its intentions to replace the current board of directors with candidates of its own choosing and reduce the number of members of the board from nine to six.

The rebellion came, reports Bloomberg, after five quarters of losses. The company has also faced a spate of bad news and scandals over the last two years, including the Hot Coffee mod furore, a stock-options scandal, and criminal charges being levelled at the former CEO and founder.

Take-Two has responded to the event by announcing that it will be postponing its annual meeting, originally scheduled for March 23, until March 29. This is in order for the company to, "review the proposed actions of the shareholder group and also to evaluate alternative courses of actions that could potentially be presented to the shareholders, including a possible sale of the Company."

Shares in Take-Two jumped up 6.8 percent to $22.26 at the start of trading on the Nasdaq today. The shares have risen a total of 18 percent since the original announcement from the shareholders' group.

via gamespot (http://us.gamespot.com/news/6167588.html?om_act=convert&om_clk=newstop&tag=newstop;title;1)

[muffinman]

thompson cant get rid of them all by the 23rd now what a shame :p

[Basil Zero]

BWAHAHAHA!

Take Two isnt afraid of some lifeless lawyer, why dont he try to do something useful to the community than waste his time against entertainment.

[Sk8.4.Life]

Thompson probably blackmailed the group of shareholders >.<

[drock82]

lets just hope that this doesnt hinder the release of gta4

[Tree]

lets just hope that this doesnt hinder the release of gta4

it wont hopefully or ders gonna b riots mate nd im gonna be in them! my fav game since i was like 10 or something :P but that shows you something i anit some **** who goes round shooting people for no reason and i played it at a young age ...

[mnky]

No you merely cannot spell or think properly.

[darkspectorXP]

Yeah, companies do crooked deals all the time, we just don't hear about them. Remember Enron? Ken Lay had a heartattack after he was convicted of stealing his employees retirement money. They could pay off the judge with some money out of an offshore bank account that is located in a country with so-so ties with the US and its allies just so that the judge will rule in the companies favor no matter what is brought up at trial and nobody would know about it. Do you know how much Take Two is worth right now? Well, according to Bloomberg.com (http://www.bloomberg.com/apps/news?pid=20601204&sid=aRlg5viYugH4&refer=technology), they are worth about $1.65 billion. What is a few million dollars to them if it will get a judge to rule in their favor?
Ben