Electronic Arts, in Niko Bellic fashion, again extended its offer of “protection” to Take Two shareholders over the weekend:

Electronic Arts, the world’s largest video-game publisher, today announced its third extension of its tender offer for shares of Take-Two Interactive Software until June 16, continuing its attempt to acquire the publisher of one of the video-game industry’s most valuable products, the “Grand Theft Auto” series.

EA, though, said it would not raise its $2 billion bid.

EA’s bid now represents a discount to the current stock price – virtually unheard of in takeover deals (Yahoo! refused a 75% premium from Microsoft!). And for some reason EA execs don’t think that the offer of a takeunder for the company that just put out the biggest media release in history is unreasonable.

Sounds like they’re playing a little too much GTA IV:

[youtube http://www.youtube.com/watch?v=K-h5gyT-rSQ&hl=en](Click through for video)

Source:
EA again extends deadline on Take-Two offer
John Boudreau
Mercury News

A $500 Million Week for Grand Theft Auto
Matt Richtel
The New York Times