Game Giant Electronic Arts Begins Hostile Bid for Take-Two

Game publisher Electronic Arts is turning to shareholders in its fight to acquire rival Take-Two Interactive Software. The world's largest game publisher announced yesterday that it would pay $26 per share of Take-Two stock, the same price the Take-Two board rejected last month.

"We believe Take-Two investors will see our tender offer as the best way to maximize the value of their investment in Take-Two," EA chief executive John Riccitiello said in a statement.