In an e-mail sent to Game Politics, Thompson says he purchased a bunch of under-priced shares at the current value of $7 – compared to the $26 price per share that could’ve been received a while ago, when Electronic Arts was trying to purchase the publisher. Here are a few delicious bits from Thompson’s e-mail:
“Thompson, having met with Zelnick personally on May 15, 2007, concluded, after spending two hours with this fellow that Zelnick was an incompetent, reckless goofball. […] TTWO is today trading at about $7 per share. Zelnick blew it. Thompson today bought a bunch of Take-Two stock at the $7 figure. The reason Thompson has done this is to lead the effort by Take-Two shareholders to dump Zelnick.”
And probably the ex-Miami attorney plans to become the company’s CEO himself, because otherwise this whole rioting makes no sense. On the other hand, anything JT did made any sense… Still, this time, Thompson might have a point: it is very likely that the shareholders are a bit unhappy with the current pricing of Take Two’s shares.