Electronic Arts Tells Take Two “Thanks for the Ride”

By Joe Haygood | September 15, 2008

So after four extensions and formal negotiations, Electronics Arts has walked away from a merger with Take Two Games.  The official statement states that:

 ”EA continues to have a high regard for Take-Two’s creative teams and products, [but] after careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software Inc., EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two.”

One has to wonder if Electronic Arts looked at the sagging tail of Grand Theft Auto IV sales and realized that maybe this is not the Shangri-La that we thought it was.  Either that or maybe they were just listening to Kelly Clarkson’s “Walk Away”, and had a moment of clarity about the whole deal.