EA confirms it's offer of $2 billion has been turned down by Take-Two.

As we reported at the end of February, Take-Two has been the subject of a take-over bid by third-party behemoth Electronic Arts. The figure, now revealed as $2 billion, was rejected as Take-Two claimed it did not represent the best deal for the company or its shareholders.

It is understood however that Take-Two is still open to take-over bids, including from EA, but is wishing to wait until after the launch of upcoming GTA IV before it assesses exactly how much its worth.

More as it breaks.