"Grand Theft Auto IV" comes out April 29, and I can't wait. It's the next installment in the controversial, violent, mayhem-filled series, and it will become the year's top-selling video game. Those who haven't played GTA are often mortified by the carjacking, cop-killing and other nefarious shenanigans it offers. But these games sell because above all else, they're unbelievably fun. (The new title will surely be rated "mature," so don't let the little ones get their hands on it.)
The upcoming game is a huge reason why Electronic Arts is making a major, and slightly hostile, play for GTA publisher Take-Two Interactive. EA offered $2 billion for Take-Two last month -- $26 a share, up from an earlier offer of $25 a share -- and was flatly rejected. Take-Two called the offer "the wrong price at the wrong time." Its shares, in the $16 range before EA's offer was made public, closed at $26.20 Monday.
Take-Two is smart to reject such a low offer. But how much is the company worth? A Wedbush Morgan analyst thinks EA should walk away if Take Two continues to thumb its nose. But Cowan's Doug Creutz thinks EA is justified in going as high as $32 a share. A Take-Two investor wants $33 a share.
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