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Technology Stocks : GTIS - Will it be a Phoenix or not ?
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To: Scott Miller who wrote (2244)7/19/1999 1:14:00 PM
From: Bonzo  Read Replies (2) of 2319
 
Subject: THQ Takeover?-Nah!
Date: Mon, 19 July 1999 01:04 PM EDT
From: Bonzo3
Message-id: <19990719130432.23515.00000064@ng-fn1.aol.com>

I'm not familiar with flyonthewall.com and what level of credibility this online rumor site has, but I seriously question whether Hasbro or Mattel would be interested in buying THQ - at this time. GTIS has put themselves in play in almost the same manner Microprose did one year ago. The successful bidder then, of course, was Hasbro Interactive. GTIS has to sell to survive. They have quality studios, quality games and
catalog brands but a lousy balance sheet and insufficient cash to fuel any growth. HAS could probably take them out for as little as $5.50-6.00/share plus assumption of debt ($550-600M total). Almost all previous industry consolidations were done with troubled game companies. Can anyone name (public) one that wasn't? I believe Hasbro would be more interested in GTIS before THQ. I believe Hasbro would covet Humongous Ent. in particular. Farrell's
mindset has been one of being the acquisitor and not the acquisitee (sic). My feeling is he wants to stay independent and rapidly grow the international business while continuing to strategically acquire small studios. In 2-3 years THQ will be an industry powerhouse, perhaps second only to EA. By then, Farrell would have truly made his mark and could ride off into the sunset with a bundle. All imo.

btw, I maintain long positions in both GTIS and THQI with a much larger position in THQI.

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