...and yes, we're as sick of reporting it as much as you are sick of hearing it, and as sick as Take Two are of rejecting it, as their latest press release so clearly indicates.

E.A., you've been doing a wonderful job of rebuilding your reputation over the last year. Give up this obsessive take over before you destroy it entirely.

Full press release below.

New York, NY— June 17, 2008 — Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today responded to Electronic Arts Inc.'s (NASDAQ:ERTS) announcement that it is extending for a fourth time its unsolicited conditional tender offer to acquire all of Take-Two's outstanding shares.

As reported by EA, only 6,139,824 of Take-Two's outstanding shares, or approximately 7.9% of the total, tendered into EA's offer as of 5:00 p.m. Eastern time on June 16, 2008.

"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," said Strauss Zelnick, Chairman of the Board of Take-Two. "Our Board of Directors remains in unanimous agreement that the proposal is contrary to the best interests of Take-Two stockholders, and the Board continues to recommend that stockholders not tender their shares to EA. The Board remains focused on the strategic process that began formally on April 30 to consider all alternatives to maximize value. We believe that these alternatives, which may include a business combination or remaining independent, will deliver greater value to stockholders than the current EA offer."

Ben Feder, Chief Executive Officer, commented, "Take-Two's vast potential to create and enhance stockholder value has become even more evident in recent weeks, with the runaway success of Grand Theft Auto IV, a product pipeline that is one of the strongest and most creative in our history, and continued operational and financial progress. We believe that any alternative we consider must fully reflect the value we are creating and capture that value for the benefit of our stockholders."

Tags : Ben Feder : Buy-out : E.A. : electronic arts : Grand Theft Auto : Grand Theft Auto IV : gta4 : gtaiv : manhunt : manhunt 2 : PlayStation 3 : rockstar : rockstar games : Stockholders : Take Over : take two : take two interactive : Wii : Xbox 360

Comments

By: Dragonsoul

On: 09:19 Jun 17th, 2008
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Unrequited love. Rejection after rejection after rejection...It's like the greatest love story ever told, only it's still without an ending. :P

It's highly entertaining, to say the least. :P

By: Evren

Video Game Chat Member Avatar

On: 10:52 Jun 17th, 2008
Offline

ZOMG.
STFU EA.
I've just about had enough.

By: Snake Plissken

On: 12:45 Jun 19th, 2008
Offline

Dragonsoul;51315

Unrequited love. Rejection after rejection after rejection...It's like the greatest love story ever told, only it's still without an ending. :P

It's highly entertaining, to say the least. :P

Such an eloquent way to put it my dear, very nice.

EA need to take the hint and either give up or stop being so cheap.

By: Laylia

On: 12:51 Jun 19th, 2008
Offline

I don't know about an unrequited love story...

It sounds more like a douche hitting on a pretty girl in a bar and she's just not interested... But the guy just won't take the hint... :lol: