Still they deny the offer.

It's been a while since EA has been trying to bring take 2 under their wing and destroy it but keep the properties. Heck we all know that is what its all about. EA made take 2 an offer that would give them $26 per share which take 2 says it undervalues their business.

The offer was or by EA's terms was suppose to be accepted by June 16 but has extended the offer or the deadline until July 18 and has offered them $25.75 a share. a .25 cent drop isn't really anything but when talking about Millions that amounts to alot of money.

Take 2 stands strong and with the release of GTA 4 and the soon to be released midnight club LA their sales will go through the roof and EA knows that.

"We congratulate Rockstar on the successful launch of GTA IV but believe our offer reflects a full and fair price based on the long-term value of Take-Two's entire operation," said Owen Mahoney, senior vice president of EA Corporate Development, in a statement Tuesday.

With that in mind Take 2 says that it deserves a higher offer than a small $25.75 per share.

"The latest extension of EA's unsolicited, highly conditional tender offer does not alter the fact that their proposal still significantly undervalues Take-Two, a fact that is reflected in the overwhelming number of stockholders who still have not tendered their shares," Strauss Zelnick, chairman of Take-Two, said in a statement after the latest extension.

Either EA knows that their own studio is failing and are trying to gather many great studios before their company goes down the toilet or they are trying to get the #1 spot from Activision.

Ubisoft is also another studio of which EA owns part of and with Take 2 under their belt it is no doubt that they will probably get the #1 spot back. As to whether or not other studios will sell out is unknown at the time?

Source