Take-Two shareholders approve board, pay package

SAN FRANCISCO, April 17 (Reuters) - Shareholders of Take-Two Interactive Software Inc (TTWO.O) on Thursday reelected the board of the video-game publisher, signalingsupport of the company's efforts to fend off a $2 billion takeover bid by rival Electronic Arts Inc (ERTS.O).

A company spokeswoman said shareholders also approved a new executive incentive package that will give Take-Two management higher fees and additional shares, some of which vest immediately in the event of a buyout.

EA's offer was structured so if the compensation measure passed, its per-share bid falls to $25.74 from $26. (Reporting by Anupreeta Das; Editing by Gary Hill)