EA's offer for Take-Two could collapse

Present offer will lapse

With Take-Two still fighting against EA's proposed take-over of the Grand Theft Auto maker, EA have conceded they will not renew the offer currently on the table, which is set to expire at midnight tonight.

EA state that they will allow their offer for the firm to lapse as they don't believe they could integrate the company this side of Christmas, given how long this business saga has dragged on.

Take-Two's shares dropped amid the news, and are currently trading at 23.99 USD.

Take-Two and EA are likely to remain in discussions for some time, and EA boss John Riccitiello has been in ongoing talks with Take-Two chief Strauss Zelnick, but the deal looks to be off... for now.

By Luke Guttridge