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Pachter: Take-Two Has Made An Oops
By Steve West: 2008-03-26 19:21:00
Now that Take-Two has officially rejected EA’s buyout offer, Wedbush Morgan’s Michael Pachter has some things to say. And if you’re Take-Two, it looks like a big shame-shame-shame. Pachter takes a had stance against the move, stating that Take-Two will have trouble finding a kinder suitor.
Pachter detailed his misgivings about Take-Two’s maneuver to Gamasutra. He goes on to say that the $26 asking price of EA’s initial offer have not been met on the market, despite a drastic jump after the buyout offer went public. But the most important portion of his analysis is the assertion that Take-Two will be perceived as less valuable by EA post-GTA IV. Pachter believes that the offer will be lowered, as the only big initiative would be the combining of sports franchises. Once GTA IV is released EA loses the benefit of that monumental release. EA could now gain control of Take-Two through hostile means. If that does not follow through, then Pachter feels EA could pull out completely. Which could drop the stock price of Take-Two significantly. More if analysts believe EA is gone for good, but even if it’s a stroll around the block move the dip should still be significant. RELATED: ea, take two, buyout, gtaiv, rockstar
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