Earlier today, Electronic Arts made an unsolicited tender offer of $26 dollars per share to shareholders of Take-Two.

Take-Two is urging all shareholders to ignore the offer for now. Take-Two said it will reconsider EA’s offer and notify stockholders of the Board’s position regarding the offer within 10 business days.

Take-Two Interactive Software Advises Stockholders To Take No Action In Response To Electronic Arts Offer

New York, NY – March 13, 2008 -The Board of Directors of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today recommended that Take-Two stockholders take no action at this time in response to the announcement by Electronic Arts Inc. (NASDAQ:ERTS) that it has made an unsolicited conditional tender offer to acquire all of Take-Two’s outstanding shares of common stock for $26 per share in cash.

Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, Take-Two’s Board will review and consider EA’s offer, and within 10 business days, will advise Take-Two’s stockholders of the Board’s position regarding the offer as well as its reasons for that position.

Follow this author on Twitter.