On Friday a deadline set by Electronic Arts for shareholders of Take-Two interactive software passed. The US video game giant offered shareholders an unsolicited $25.74 per share valued in the reign of $1.9bn, after the Take-Two board of directors rejected the bid as undervaluing the business.
There has been no comment from either company after Friday’s deadline set by EA and it is likely that Take-Two shareholders will hold out for more money. Take-Two’s directors had refused to hold takeover talks before the launch of Grand Theft Auto IV on April 29th.