MONDAY, Feb 25, (News Locale) - Electronic Arts refused to give up on their bid to acquire Take-Two Interactive with the game publishers offering $2 billion to  Take-Two's investors after its initial offer was rejected by the Take-Two board.
 

The bid sees EA offering over $26 a share, more than 64 percent higher that the current share price EA CEO John Riccitiello stating that any delay in accepting the bid would undervalue the deal. Riccitiello said that even though the board has rejected its initial offer, the company was intent on a "friendly acquisition" of Take-Two which is beneficial for all parties concerned.

One of the major incentives of acquiring Take-Two is the Rockstar factor, whose soon to be released GTA IV will provide EA with one of the world's most popular M-rated game. "EA is under-represented in M-rated content; this gives us the world's best M-rated content", Riccitiello said.

Riccitiello also assured that Take-Two's various internal studios, which includes Visual Concepts, Firaxis Irrational and Rockstar, will continue to remain independent with EA harboring no plans of interfering with the game design.

He added that one of the main reasons that EA delayed its official dialogue for the bid was that Rockstar would complete the core development of GTA IV and the ongoing negotiations would not "screw up" the game design.

Riccitiello went on to say that the bid would be the best thing that could happen to Take-Two with EA being far superior in terms of infrastructure and management and the acquisition will help the internal studios increase their sales.

Riccitiello added that while GTA IV is expected to be a money spinner for Take-Two, the company has failed to declare a profit for the past two years and questioned its future viability since it depends on "limited titles."

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