In a press release earlier today Electronics Arts announced that it proposed to acquire publisher Take-Two in a cash merger estimated at 2 billion dollars. Mr. Riccitiello, EA Chief Executive Officer said: “Our all-cash proposal is a unique opportunity for Take-Two shareholders to realize immediate value at a substantial premium, while creating long-term value for EA shareholders. Take-Two’s game designers would also benefit from EA’s financial resources, stable, game-focused management team, and strong global publishing capabilities.”

Within hours Take-Two responded with an absolute ‘No’ calling the bid, “highly opportunistic” seeing as the Grand Theft Auto release is fast approaching. However, Take-Two stated that it may enter discussions with Electronic Arts after the release of GTA IV on April 30th.

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