T2 to EA: $25.74 a share is that all I am worth to you?

From The Mercury News:

"Take-Two Interactive Software hinted Monday at the possibility of formal negotiations with its hostile suitor and rival video-game publisher, Electronic Arts of Redwood City.
Strauss Zelnick, Take-Two's chairman, announced in a statement that the company had begun a "process" involving some type of "formal discussions" with unnamed "interested parties." A Take-Two spokeswoman said the New York-based company declined to elaborate on the wording of the statement and would offer no additional details.

Earlier Monday, EA revealed another extension of its $2 billion tender offer to Take-Two shareholders, this time extending it to June 16 to accommodate a Federal Trade Commission review of antitrust implications. The previous deadline for the tender offer was Friday, which was an extension from mid-April. EA took its offer directly to shareholders March 13 after being rebuffed by Take-Two's board.

"EA's offer price remains unchanged at $25.74 per share, and our offer is still subject to conditions that include regulatory approval," Owen Mahoney, EA's senior vice president of corporate development, said in a statement.

EA declined to comment on questions about possible formal discussions with Take-Two.
Take-Two's board, which repeatedly has characterized EA's offer as insufficient, had rejected any formal negotiations until after the April 29 release of "Grand Theft Auto IV," the latest edition of the blockbuster game series that's central to EA's bid."

Hat Tip: The Posse List