Electronic Arts Inc., the world's largest video-game publisher, made a $2 billion hostile offer for Take-Two Interactive Software Inc. after management refused to negotiate before its next ``Grand Theft Auto'' release.

According to Bloomberg

``The offer will go up only if Take-Two management is perceived by EA management to have some leverage, and the only leverage they have right now is to make this a friendly deal,'' said Michael Pachter, an analyst with Wedbush Morgan Securities in Los Angeles. Take-Two should meet with Electronic Arts, and in exchange, may get as much as $1 a share more, he said.

Take One - March 2007 - Talks initiated by Take Two. EA terminates to "concentrate on other things"
Take Two - Feb 2008 EA makes hostile bid, Take Two rejects.
What have we in store?

Take Three! Action! Zelnik won't re-negotiate until GTA 3 is out and their stock very possibly goes up. Smart man.