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 NEW YORK (AP) - The heat is on: Electronic Arts Inc.'s $2 billion bid for "Grand Theft Auto" maker Take-Two Interactive Software Inc. turned hostile Thursday as EA took its $26-per-share offer directly to Take-Two shareholders.
The tender offer expires on April 11, more than two weeks before the latest "Grand Theft Auto" hits store shelves. The wildly popular series, where players complete crime missions to get ahead in a gritty underworld, has sold 65 million copies and is considered one of the most successful video games in history. It's also Take-Two's main source of revenue and expected to bring in as much as $1.4 billion this fiscal year.
New York-based Take-Two has consistently rejected the bid since late February, calling it the wrong price at the wrong time. On Thursday, its board asked shareholders to wait 10 days while it reviews the offer.
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