Electronic Arts Terminates Take-Two Takeover Talks

Electronic Arts is dropping its pursuit of Grand Theft Auto 4 publisher Take-Two Interactive, the company announced today.

Following months of hostile buyout offers by EA, the companies started talks under a confidentiality agreement last month.According to the announcement today, "EA continues to have a high regard for Take-Two's creative teams and products," however, "after careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software Inc., EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two."