So much hanging by a thread

Despite two rebuffs from the smaller gaming company, Electronic Arts (EA) is neither backing down from, nor raising, its $2 billion hostile bid for Take-Two.

EA has instead opted to give Take-Two an acceptance extension to April 18, The Associated Press reports.

Take-Two is reportedly receptive to a buyout, but is holding off for a higher offer and the public release of Grand Theft Auto IV, which starts selling on April 29th.

"If [the debut of GTA IV is] inconsistent with someone else's timing so be it," said Chairman Strauss Zelnick of Take-Two. "We are not saying let's do this 2011, we're saying let's do it in a few weeks."