February 24, 2008 / 9:40 PM / 9 years ago

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

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."

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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