Impact: It seems clear that many Take-Two shareholders are willing to sell but would like to hold out for a higher price. From Electronic Arts’ perspective $2 billion is a relative value. EA would eliminate some competition in the sports game market and acquire the MLB license they have been locked out of. Given how popular game franchises now are showing the ability to generate over $1 billion a year, the Grand Theft Auto brand alone may be worth the price. Finally EA’s acquisition would prevent competitors from acquiring Take-Two. Most importantly all these goals can be accomplished in a hostile takeover, without the cooperation of current management.