Electronic Arts Shadows Take-Two

Electronic Arts reacted to rebuff of its takeover offer for Take-Two first by calling the rejection "regrettable." However, the publisher of heavyweight franchises that includes Madden Football and The Sims, tweaked its offer for the company hoping to keep the deal alive.

In a filing, Electronic Arts extended the date that its offer for Take-Two shares is good for. Its offer now stands until the day after Take-Two's annual shareholder meeting on April 17--but not without another nudge to shareholders in hopes they would reconsider the EA offer sooner.