celine said:
Mr. Zelnick added, "While the Board believes that entering into discussions with EA at this time is not in the best interests of shareholders, we had offered to enter into a good-faith dialogue with EA to determine if our companies can reach common ground on the appropriate value of Take-Two as a first step to realizing a mutually beneficially transaction. However, given the great importance of the Grand Theft Auto IV launch to the value of Take-Two, the Board has determined that the only prudent and responsible course for our Company and its stockholders is to defer these discussions until immediately after Grand Theft Auto IV is released. Therefore, we offered to initiate discussions with EA on April 30th, 2008 (the day after Grand Theft Auto IV is scheduled to release). We believe this offer demonstrated our commitment to pursuing all avenues to maximize stockholder value, while we believe that EA’s refusal to entertain this path is evidence of their desire to acquire Take-Two at a significant discount, whereas we believe this value rightly belongs to our stockholders.” |
I believe that means they want more monies. 
There's now an interview on gamasutra. I found this quote interesting from EA's Riccitiello:
On whether he's concerned that this announcement will drive up Take Two's share price:
"It's pretty typical that people who were will being to pay 15-16 bucks on Friday might be willing to pay more on Monday... we'll see how the market opens. If they think the transaction's likely the price will go up tomorrow."
