It's official. The board of directors at Take-Two Interactive has rejected Electronic Arts' offer to purchase the company at US$ 26 per share. According to the statement released by the company, the offer from EA was inadequate due to a number of reasons. To find out more, check out the full article.

Perhaps it's a good thing that the management of Take-Two Interactive took the necessary steps to protect employees in the event of a company buy out. As it is, Electronic Arts has already taken the steps to do so: EA recently made a US$ 2 billion offer to Take-Two shareholders.

More on these developments in the full article after the jump.

Are you concerned with Take-Two's move to develop the sequel to BioShock in 2K Marin instead of Boston and Australia? Are you excited about a possible sequel to Max Payne next year? Is Take-Two locked down for EA's taking? All these were answered by the controversial publisher's top execs as they met up with investors. All the details after the jump.

Electronic Arts apparently took note of Jack Thompson's offer to help acquire Take-Two Interactive, and was nice enough to respond to the popular anti-video game violence attorney. Unfortunately for Thompson, his accusations against EA's games might've been reason enough for the publisher to shake its head and turn him down. Read all about it at the full article.

A lot of questions have yet to be answered regarding Take-Two Interactive's rejection of Electronic Arts' US$ 2 billion dollar takeover bid. While some believe that the company is holding out for a bigger offer, others have said that the company just wants to remain independent. Strauss Zelnick, the executive chairman of TT Interactive, recently gave his take on the rejection. To find out what he had to say, head on over to the full article.

Controversial attorney Jack Thompson is at it again. This time around he gave more than his two cents regarding the Electronic Arts and the Take-Two Interactive merger. In fact, he said he'd be willing to help EA with their endeavor of acquiring Take-Two. Find out more after the jump!

Reacting to recent industry news, Wedbush Morgan Securities analyst Michael Pachter has predicted that EA will be, in Gamespot's words, conducting a hostile takeover of Take-Two Interactive. An interesting theory that Pachter also brought up is that EA is more interested in the sports division of the company rather than its other IPs. For more on this, head on over to the full article.

Electronic Arts (EA) already expressed its willingness to acquire other developers under its wing, and its recent aggressive move to buy Take-Two Interactive just showed how intent they are in doing so. However, Take-Two Interactive's Strauss Zelnick and the Board declined EA's offer, even if it was increased after their first refusal. Read more about it in the full article.

Thanks to inetif for the tip!

It's no secret that we've seen great games from Take-Two Interactive Software, and the company's financial report for fiscal year 2007 stands proof. First-person shooter Bioshock (Microsoft Xbox 360, PC) shipped over two million units since launch, and honored the company with plenty of awards.

Find out Take-Two's fiscal year 2007 results at the full article.

With great (if not long due) games such as Grand Theft Auto 4 (for PS3, Xbox 360) over the horizon, Take-Two Interactive and its chairman Strauss Zelnick is very much optimistic about the near future. Details on the full article.