Okay, so it's not exactly MMO related...

In conclusion to it's long standing bid to take over Take Two Interactive (distributor of the popular GTA series), EA is finally going to admit defeat and walk away. EA initially offered to buy the company in February, and when that offer was denied, the bid went hostile in March. The managers at Take Two consistently said that EA's offer undervalued their company, and it looks like their shareholders agreed.

The two companies failed to reach an agreement since EA made its initial bid in February of this year. The bid went hostile in March, though relatively few shareholders have yet tendered to EA.

The $2 billion tender offer has remained through numerous deadline renewals and extensive requests for information by the FTC, while Take-Two board chairman Strauss Zelnick repeatedly stated that EA's offer undervalued his company.

Throughout the process, EA often stressed the time sensitivity of its offer. "We've been pretty consistent about this from the start," EA corporate communications VP Jeff Brown told Gamasutra. "All along, we said that the model was dependent on getting their titles for distribution for Christmas this year."

Ahh, so the impending doom of the all important holiday season changed things.

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