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Electronic Arts Offers $2B for Take-Two
Venture Business News |
2008/02/24 11:07
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Electronic Arts Inc. is pushing ahead with a bid to take over upstart gaming rival Take-Two Interactive Software Inc., despite rebuffs from the smaller company.
EA said in a statement Sunday that it is making an all-cash bid of $26 per share, or about $2 billion, for New York-based Take-Two. EA, the world's largest independent video game publisher, says it's releasing details of the proposal to get the attention of Take-Two shareholders after Take-Two's board turned down the deal. The offer represents a 64 percent premium over Take-Two's closing stock price Feb. 15, the last trading day before Redwood City-based EA made its proposal. Take-Two did not immediately return messages seeking comment. |
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Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website and help you redesign your existing law firm site to secure your place in the internet. |
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