Hostile Takeover! EA Pushes Take-Two -- Hard

We woke up this morning expecting puppy dogs and rainbows, not news of a hostile takeover! The internet has collectively exploded with news surrounding the recent announcement by Electronic Arts of their plans for a now hostile takeover of Take-Two Interactive Games, parent company of Grand Theft Auto developer, Rockstar Games. In fact, EA specifically notes Rockstar as their target in this acquisition:

"[Rockstar and its franchise Grand Theft Auto is the] primary interest of EA's attempted purchase of Take Two games.", said chief executive John Riccitiello.

"I believe the company is fully justified in calling themselves 'Rockstar' because that's what they are in this industry.", added Riccitiello.

In an effort to handle the situation, Take-Two has asked it's investors to, "take no action at this time in response to the announcement by Electronic Arts Inc. that it has made an unsolicited conditional tender offer to acquire all of Take-Two's outstanding shares of common stock for $26 per share in cash.

Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, Take-Two's Board will review and consider EA's offer, and within 10 business days, will advise Take-Two's stockholders of the Board's position regarding the offer as well as its reasons for that position."

That first paragraph is comprised of words that are understandable and easy to read, it's that second that's a doozy. In so many words, the second paragraph says, "Please hold onto your stock for 10 days! Please! PLEASE! We're working on something!" As analysts have been saying since this whole debacle started, this acquisition is an inevitability. Sorry Take-Two, and good luck.

Also, here:

Fiduciary: of, relating to, or involving a confidence or trust: as a: held or founded in trust or confidence b: holding in trust c: depending on public confidence for value or currency <fiduciary fiat money> (Yeah, we had to look it up. Fiduciary? COME ON!)