Now that the dust has settled on the Q1 results for Take-Two it turns out that their board of directors was telling the truth all along, the offer EA made was a little on the low side.
For years now Take-Two has been a one trick pony. Grand Theft Auto was just about the only thing they had that really brought in the sales revenue. That all changed last quarter though as Bioshock (Xbox 360, PC) and Carnival Games (Wii) pulled in enough sales to help Take-Two beat both their own and Wall Streets expectations. With the new Grand Theft Auto coming out next month Take-Two is set up to have a great 2008.
The Motley Fool takes a look at the situation, and calls EA out for their attempted “Grand Theft”. Click the link Investors, it is a great read.
-Wedge
[...] There is no doubt that EAs bid pushed Take-Two (TTWO) stock up when the news first broke. The price that it is at right now is about where I thought it might go after Grand Theft Auto 4 was released. Now that Take-Two has been able to develop other IPs that are selling well (BioShock, Carnival Games) I think the drastic highs and lows that their stock price has seen in the past are over. [...]