Why EA Wants Take-Two Now

BURLINGAME, CALIF. - In midday trading, Take-Two Interactive Software slipped 5 cents to $26.35. Electronic Arts fell 42 cents to $46.64.

EA Chief Executive John Riccitiello, in turn, extended his offer for Take-Two by yet another month, this time setting the date for July 18. EA contends that the offer price is north of Take-Two's value in February. EA originally offered $26 a share for Take-Two, which was trading below $18.50, and has since trimmed its bid.