EA plans tender offer for Take-Two: source

SAN FRANCISCO (Reuters) - Electronic Arts Inc (ERTS.O) plans to make a $26-a-share tender offer for all outstanding shares of rival video game publisher Take-Two Interactive Software Inc (TTWO.O), following its rejection of EA's unsolicited offer at the same price last month, according to a person familiar with the matter.

EA's tender offer will expire on the midnight of April 11, 2008, but could be extended, this person said.

Take-Two, which publishes the blockbuster Grand Theft Auto game, had rejected EA's offer as too low and ill-timed.