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Take-Two Decides To Stay Independent

Take-Two Decides To Stay Independent

October 2, 2008 | By Leigh Alexander

October 2, 2008 | By Leigh Alexander
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Take-Two will remain an independent company. The publisher says it's done reviewing its options since EA walked away from the bargaining table, and has decided not to sell to anyone.

"Our management and outstanding and talented employees have maintained an unwavering focus on our products and our business through this lengthy strategic review process and we are confident in our prospects," says Board chairman Strauss Zelnick in an official statement.

Throughout EA's long-running efforts this year to enact a hostile takeover of Take-Two, the company maintained that it was in discussions with multiple interested parties and would consider all of its options, including remaining independent.

During the process, no single organization besides EA revealed interest in buying Take-Two, nor did the publisher ever specify to whom it was speaking.

Take-Two CEO Ben Feder adds, "Our strong cash position – with no debt and an undrawn $140 million credit facility – gives us the financial flexibility to continue to do what we do best: innovate and create the great games that our customers have come to expect."


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