On a recent Take 2 Interactive's investor meeting, a decision was made to turn down the offer by Electronic Arts. Investors were apparently not satisfied with the offer of $26 per share, and furthermore, they’d rather wait for GTA 4 launch and think about the sale afterwards.
Of course, that will certainly increase share values and will require a new offer from EA. We’re yet to see whether EA will still be interested to acquire Take 2.
So, both EA and Take 2 are taking a break from financial talks, but that break is likely to end as soon as GTA 4 is launched - and that's on 29th of April.