Yesterday, Take-Two urged its shareholders to refuse EA's buyout offer of $26 per share, but EA isn't backing down. They have extended the deadline on their offer to May 16, 2008.
They have also revealed that "as of 5:00 p.m., EDT, on April 17, 2008, 6,432,787 shares of Take-Two had been tendered in and not withdrawn from the tender offer."
Take-Two also voted to issue more shares to its shareholders and in response, EA has reduced their offer price to $25.74 per share.
It's clear that EA wants Take-Two badly, but what will happen after GTA IV releases?