Ok, definitely not as huge as the Microsoft-Yahoo bidding war, but for the gaming world, EA’s unwanted bid for Take-Two is something of cataclysmic proportions.

I bet you already heard the news. EA officials propose $2 billion for Take-Two Interactive Software, meaning a $26 per share, a premium of 64 % over Take-Two’s closing stock price on February 15th, the last trading day before EA sent its revised proposal to Take-Two, and a 63 percent premium over Take-Two’s 30-day trailing average price over the thirty trading days ending on that date.

However, Strauss Zelnick, CEO of Take-Two, rejected the offer "substantially undervalues Take-Two's robust and enviable stable of game franchises, exceptional creative talent and strong consumer loyalty." In response EA made the offer public, hoping to convince the shareholders to accept the offer. 

"Our all-cash proposal is a unique opportunity for Take-Two shareholders to realize immediate value at a substantial premium, while creating long-term value for EA shareholders. Take-Two’s game designers would also benefit from EA’s financial resources, stable, game-focused management team, and strong global publishing capabilities," said John Riccitiello, EA CEO.

In an interview with GameSpot, Riccitiello explained he loves very much the games made by Take-Two.

“I think it's way too early to tell, but I will tell you that our attraction to the asset of Take-Two is because we love their studios--Rockstar, Visual Concepts, Irrational [2K Boston and 2K Australia], Firaxis--and we like their intellectual properties. This transaction as we're proposing it is not about synergies at the studio level”, Riccitiello said. On the other hand, EA has a long history of closing the studios it has acquired. 

So maybe, Riccitiello should love Take Two’s games from a distance. Unfortunately it seems like the company is decided to acquire Grand Theft Auto makers at any cost…

So grab you popcorn and get ready for a hostile takeover!