EA drops bid for Take-Two

[Sullla]

Pretty bad news for Take-Two. They played a game of brinksmanship with EA, didn't get EA to increase the bid, and now will probably end up with nothing. Expect share prices to fall off significantly now that the deal is off, and even further when Take-Two has to report their next (non-Grand Theft Auto boosted) financials in October.

Even though I'm glad the deal fell through, I don't think Take-Two's management has any clue what they're doing. I also think they will be bought out by someone - at less than EA's stock offer - within the next two years.