I'm sure everybody knows everything about EA's tender offer for Take Two's shares: basically, Electronic Arts made an offer of $2 billion for its rival company and never changed it, no matter what T2 did. It seemed that GTA's parents had no interest in being acquired, but now it appears that everything they wanted was more money.

On Monday, Electronic Arts announced that it would no longer extend its offer (it really did that quite a few times, anyway) and drop the whole deal. If you think that Take Two's president Strauss Zelnick started the victory dance, you are wrong - he started to talk to EA's boss to convince him that the company's worth is much bigger than $25.74 per share, even though just on Monday the company's shares dropped 4 more percent.

Basically, Zelnick sent an e-mail to Electronic Arts' CEO, inviting him to a friendly chat. Here's what he wrote in the e-mail: "The Company has made significant strides since EA first expressed interest in the Company and this presentation includes material non-public information to which you would not otherwise have access, including information relating to our three-year product release schedule and management's financial projections. The presentation also includes information about the underlying factors that have driven our strong operational and financial performance. I believe our presentation will enable you to understand better the value of our Company to EA."

So, indeed, they want more money. It even seems that Electronic Arts might actually offer them a bit more: "We are pleased to accept your offer to review your management presentation as outlined in your letter. We continue to have great respect for Take-Two's creative teams and products and are hopeful that we can work together to reach a mutually agreed transaction," replied John Riccitiello, EA's CEO, stating that, however, the company does not believe that they can integrate Take Two before the "important holiday season" and therefore, it will not extend the tender offer.

All in all, things are as complicated as they were when Electronic Arts first made the offer to purchase T2, but at least one thing is clear: Take Two is not against the deal itself, it just wants more money. All we can do now is wait and see if EA is willing to pay more or not.