Monday, September 15, 2008

Grand Theft Shareholder Value

I'll admit that I haven't been watching this story very closely, but Grand Theft Auto creators Take Two today walked away from what I thought was a perfectly good offer from video game giant Electronic Arts.

If that sounds familiar, if is exactly what Yahoo did with the Microsoft offer.

Take Two's stock was down 24% today and is now back to around where it is when ERTS announced its offer in February.

I have no idea how this was justified but if I owned the stock I'd be furious.

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