Pachter: 'Take-Two's Board Has Made A Mistake'

[MIG-31]

Following the Take-Two board's official rejection of EA's buyout offer, Wedbush Morgan's Michael Pachter has called the move a mistake, firmly stating the publisher has "virtually no chance of finding a better offer."

"We're frankly surprised by Take-Two's rejection of EA's offer," said Pachter, noting that shares of the publisher were trading at $17 immediately before the offer, and that shares of the company have not reached near EA's asking price of $26 since new management took over, and that the company "has consistently lost money for the last two years."
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Source: Gamesutra