Nothing you said is true. You have a preschool understanding of things. You don't know what the numbers truly mean or how to interpret the numbers. It's a problem many have
Again, being rude and attacking while not being able to back your claims with a single fact or market data.
Market cap means little to nothing.
Again, market cap means little to nothing.
Some companies have sold for way less than their cap. Do you even know what a cap is and how it's "calculated?"
The market capitalization, commonly called market cap, is the total market value of a publicly traded company's outstanding shares (company's stock held by all its shareholders, even institutional investors and restricted shares owned by the company's officers) and is commonly used to measure how much a company is worth. It is calculated by multiplying the price of a stock by its total number of outstanding shares.
Youre talking about this "must pay premium above cap" bullshit because that's what you heard on forums from xbox fans, and now you parrot it to sound like you know what that actually means. Everyone has access to info now, so everyone can repeat info, but very rarely will they have actual experience in the real world with that info to know what that info means, or to know how things truly work
Acquisition premium is the difference between the price paid for a target company in a merger or acquisition and the target's assessed market value. It represents the excess amount over the fair value of all identifiable assets paid by an acquiring company.
A simple way to calculate the acquisition premium for a deal is taking the difference between the price paid per share for the target company and the target’s current stock price, and then dividing by the target’s current stock price to get a percentage amount.
Typically shown as a percent, to indicate the difference between the price paid for share versus its current market value. When there are many bidders or it's an important company of a market that is in consolidation period the premium gets higher, which is what is happening in gaming: MS paid a 45% premium for ABK, Take 2 paid a 64% for Zynga. Several years ago, the big acquisitions were paid with a smaller premium, but now it's expected to continue at around 50% or go higher, even obviously the percernt will depend on each case and negotiation.
And companies aren't just bought with straight cash. That again shows ignorance
Sony can buy T2 with a mix of cash and stock WITH complete and utter EASE
Go tell Sony's team, the best of the best, that they can't afford to buy T2, and than watch them laugh at you and mock you for buying into that non sense
I didn't say that companies can only be bought with cash. I said Sony is paying acquisitions with the cash they did put on a special budget to repurchase Sony stocks and make their investment and acquisitions. And well, Sony is buying back Sony stocks, not using them for acquisitions.
They could buy paying with cash+stocks but they won't (at least this FY) because they approved an strategic investments budget of 4 trillion yen ($30B then, $29B now), which is what they use to pay Sony stock repurchases, investments and acquisitions. And it's for the whole Sony, not only SIE. SIE only will spend a portion of that budget, which in almost the whole previous FY was around 40% (this year may be bigger or smaller, I assume it will be slightly higher, around 50%).
And that would be the case if Sony would be interested on what Take 2 can offer them (not only SIE) for that price and if Take 2 and their major stakeholders would want to sell and in the case they would want to sell to do it to Sony. I think in console Take 2 excels mostly on open world and sports, and area where Sony already does a great job and that in acquisitions they often prefer to acquire people in genres/game types where they don't excel. Regarding mobile, Sony said they want to bring their PS IPs to mobile and stay true to PS Studios values and I think Zynga or their GTA mobile ports aren't a good example of that. So in my opinion, if Sony will make an effort to buy someone would be a company that would help them in many other things that their existing 1st party studios don't -or almost- don't handle in console, and that in mobile have another profile.
And there's the price: Sony could get the 51% to take control but they are acquiring 100% of companies and Take2 goes beyond their available budget. So until they review it next May or May 2024, also considering non SIE acquisitions, investments and stock repurchases I think there won't be enough budget there to buy Take 2.
Take 2 is one of the top gaming companies with huge growth in the last 10 years and with people like Vanguard and Blackrock as main shareholders, who won't sell cheap specially considering big gaming acquisitions are being sold at a 50% premium. They also would the best moment to sell, which isn't now since the value of Take 2 grew a lot for 10 years and will continue growing. And it performs great, and in the context of consolidation its valuation will grow as time passes.
An aquisition occurs when 2 companies AGREE TO A DEAL AND THE SET OF TERMS WHICH WERE NEGOTIATED. A deal can encompass anyANYTHING. It's not a 1 blanket size fits all for every deal etc.
I never said the opposite.
Very rarely does market cap or pure cash ever matter
Not true, market cap is the main indicator to value the net worth of a public company.
Ive shown you this with facts and data, plenty. But you ignore it. People like you can't be helped. You're arrogant in your ignorance. You need to help yourself first. But just realise that people who actually are in the stock market and know how it works laugh at your arrogant ignorance
You only shown rudeness. Not a single fact to back your claims, only insults.
And just go listen to the very president of Sony Movies, where he says Playstation will be their main driver for aquistions - and how gaming is their main focus. He said the biggest sector where they can keep expanding is in gaming. Most of that budget is for Playstation and you know it. That's what the facts are pointing towards.
I already posted you his related quote. He didn't say anything related to acquire Take 2 or a company of that size, or that they would skip the budget they have for acquisitions, investments and stock repurchases. He only said something we already knew, that gaming industry was entering a consolidation stage and that there were going to be big acquisitions there, including from Sony (who has been making acquisitions since 2019).
But youre blind to any reality which you don't like - you only see what you want to see, and that makes you no better than an xbot in that regard. The only company who Sony would probably struggle to buy, or take a bigger hit than they would like to, in order to buy, is EA.
Sony could afford to buy EA too. But like with Take 2, they won't. Because like Take 2 it goes beyond what they have budgeted for acquisitions, investments and Sony stock repurchases.
Again, maybe it will take repetition for your thick skull to register it. Market cap means little, and cash isn't the only way to buy. If Sony has a 30billion dollar aquistion budget in cash alone (mostly for Playstation), than they are capable of buying much larger than that number. Sony doesn't just have tons of cash, and mad cash reserves (in trusts), they have tons of assets, and very low debt to get any loans they want. Educate yourself and stop spewing your preschool level understanding. You aren't fooling anyone who's actually into stocks or whom knows about Sony as a company
Sony uses that budget to pay acquisitions and other things, they made it for that. Won't use anything else of the things you mention. Educate yourself.
