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EA/Take-Two Battle Continues

Electronic Arts is not giving up their battle for GRAND THEFT AUTO publisher Take-Two, per VARIETY.

They're keeping the heat on Take-Two's shareholders despite the board's recommendation that a hostile $2 billion acquisition offer be rejected.

EA pushed back the expiration date to April 18, to counter Take-Two's decision to move their annual meeting back to April 17, a week after the bid was set to run out.

The offer now can be discussed at the meeting and gives shareholders one last opportunity to sell.

EA conditioned their offer on Take-Two taking back their recently adopted "poison pill" or ensuring it does not apply to EA. The so-called "poison pill" would make it impossible for EA to purchase more than 20 percent of Take-Two's stock in the next 180 days.

Take-Two has made it clear they will enter talks with EA and other buyers after GRAND THEFT AUTO IV is released on April 29.

EA is insistent on closing the deal before then, saying it wants to sell Take-Two's games over the holiday period and could also be concerned Take-Two shareholders will demand more money if the game sells better than expected.