Earlier this morning, Electronic Arts announced the decision to once again extend the deadline of its $25.74 per share tender offer for Grand Theft Auto publisher Take-Two. Previously set to expire on May 16, the offer is now scheduled to close on June 16 — unless further extended (EA’s emphasis, not ours).

Take-Two’s official stance on the offer hasn’t changed one bit, with company CEO Strauss Zelnick noting the following in a statement:

This is the same highly conditional proposal that EA offered Take-Two stockholders on March 13, 2008, which our Board of Directors thoroughly reviewed and unanimously determined to be inadequate and contrary to the best interests of Take-Two’s stockholders. As such, the recommendation of our Board of Directors that stockholders not tender their shares to EA remains unchanged. The Board is committed to maximizing stockholder value and is exploring all strategic alternatives to do so. We said we were willing to begin formal discussions with interested parties on April 30, following the launch of Grand Theft Auto IV, and we have in fact begun that process. We are confident in the significant growth potential of Take-Two and in the unique value of our business given our strong position in this growing and dynamic industry.

As of May 16, only 6,210,261 (or 8.0%) of the company’s outstanding shares have been tendered in to EA’s offer.

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