Take-Two pushes back

The first major ripple from Electronic Arts' takeover bid for Take-Two Interactive Software pulsated through the stock market Monday, driving Take-Two's share price up 55 percent, a company record.

Take-Two, publisher of the lucrative and controversial "Grand Theft Auto" video-game series, pointed to the market's reaction as proof that its stock has substantially more value than reflected in EA's offer of $26 cash per share. Take-Two's stock closed at $26.89, up $9.53, in the aftermath of EA's weekend decision to initiate a public campaign for shareholder support.