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Take-Two rejects EA's $26-per-share offer

Sun Feb 24, 2008 4:38pm EST

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NEW YORK, Feb 24 (Reuters) - Take-Two Interactive Software Inc (TTWO.O) on Sunday rejected an unsolicited, $26-per-share offer by Electronic Arts Inc (ERTS.O), saying it was at a significant discount to its peers and came at "absolutely the wrong time."

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Take-Two called EA's offer "highly opportunistic" and an attempt to take advantage of its upcoming release of Grand Theft Auto IV.

The company said it had offered to enter a dialogue with EA on April 30, a day after Grand Theft Auto IV's scheduled release. (Reporting by Ritsuko Ando)

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