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Take-Two hasn't ruled out EA deal -chairman

Sun Feb 24, 2008 5:14pm EST

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SAN FRANCISCO, Feb 24 (Reuters) - Take-Two Interactive Software Inc (TTWO.O) has not ruled out a potential buyout from Electronic Arts Inc (ERTS.O), but the timing and price of its current $2 billion offer are wrong, Take-Two Chairman Strauss Zelnick said on Sunday.

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"We didn't slam the door, we just said look, the price is not right and the time is wrong," Zelnick said. He declined to say what price he thought Take-Two should command.

Asked if Take-Two would enter into formal discussions with EA before the April 29 launch of its highly anticipated game "Grand Theft Auto IV", Zelnick said: "We have to see what steps they take, and we have and will continue to operate in the best interest of shareholders."

If something happens that creates a reason to do something different, its our job to do something different."

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