Last week, two things happened in the now-more-than-a-month-old story of war and betrayal between Take Two and Electronic Arts. The Take Two board has decided to respond negatively to EA's hostile bid proposal and encourage stock holders not to sell, by describing Take Two as having "multiple alternatives" designed to "create value for sharegolders." Meanwhile, EA has announced that Eric Brown is the replacement for its outgoing Chief Financial Officer, Warren Jensen.

Under the supervision of the new CFO, there's been a change in the way Electronic Arts is pursuing the acquisition of Take Two stock. The original deadline for shares acquisition of April 11 has been moved back by one week, to April 18 at 12:00 GMT. It has also added a condition to its offer which makes the board of directors at Take Two responsible for redeeming "new preferred stock purchase rights or otherwise satisfy Electronic Arts that the rights would be invalidated in the event of an acquisition." If you'd like that translated please contact an acquisitions and hostile offers qualified lawyer because we sincerely have no idea what it means.

Owen Mahoney, who is senior vice president of corporate development at Electronic Arts, declared: "The actions of the Take-Two Board may increase the risk for their stockholders by delaying a potential transaction. We continue to believe that our $26 per share offer price is full and fair, and that a transaction between Take-Two and EA is the most compelling combination financially, strategically and operationally for all parties."

Most industry analysts have been quick to criticize Take Two's decision to again reject an offer coming from Electronic Arts, citing the fact that stock prices for Take Two shares are now well below the sum EA is offering. But Strauss Zelnick seems very serious about now talking to anyone about a sale until after GTA IV is out at the end of April.

By that time, we'll also probably get an announcement from Electronic Arts detailing the results of their hostile bid and whether they have any interest left regarding the acquisition of Take Two.