We were all convinced that it was a matter of time before EA acquired Take 2 and the video game industry would be one big conglomerate of mediocrity. The inevitable success of GTA IV made Take 2 that much more valuable and forced the shareholders to hold out as long as they could. It seems now as if EA is no longer interested and Take 2 chairman Strauss Zelnick could not be happier.

If this doesn’t work for E.A., then I guess it doesn’t work for them,” Mr. Zelnick said Monday in a phone interview. “I’m totally fine with that, and so are our shareholders.

Mr. Zelnick’s nonchalance may be part of a high-stakes tactic. The back and forth that has agonized investors for months is not yet over. The two companies agreed — in an exchange of carefully worded letters — to arrange a meeting to see whether there might yet be common ground for a friendlier merger discussion.

This could be some sandbagging at the highest level or maybe EA failed in their attempt. We must continue to wait on the fate of Take 2.

NYT via news tip from no stars.