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Take-Two urges EA to give up

In talks with other potential suitors

Take-Two have once again spoken up about EA's ongoing attempts to take-over the GTA publisher.

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EA confirmed today that they have extended their offer until June 16th, the giant offering 25.74 USD per share. This values Take-Two at over two-billion USD, although Take-Two now say they are talking to "other interested parties".

Take-Two's board say the deal undervalues the company. "This is the same highly conditional proposal that EA offered Take-Two stockholders on March 13th, 2008, which our Board of directors thoroughly reviewed and unanimously determined to be inadequate and contrary to the best interests of Take-Two's stockholders," said CEO Strauss Zelnick.

"As such, the recommendation of our Board of Directors that stockholders not tender their shares to EA remains unchanged. The Board is committed to maximizing stockholder value and is exploring all strategic alternatives to do so. We said we were willing to begin formal discussions with interested parties on April 30th, following the launch of Grand Theft Auto IV, and we have in fact begun that process."

Zenick believes Take-Two will be worth more in the future, and recently confirmed a movie deal for BioShock with Universal Pictures.

More soon.