The world’s biggest computer game maker, Electronic Arts (EA), launched Thursday a hostile takeover bid for rival Take-Two, creator of hit game “Grand Theft Auto,” valuing Take-Two at 2.0 billion dollars (1.3 billion euros).US-based EA made a similar offer at the end of February that was rejected by Take-Two as two low given the company’s blockbuster titles and ownership of hot video game creator Rockstar Games.

“Management did not act on that offer so we took the next logical step,” EA spokesman Jeff Brown told AFP. “We thought shareholders should have a chance to act on the 26-dollar price.”

Take-Two stock was trading near the 17-dollar-per-share mark when EA made its original offer to the board of directors about two weeks ago.

Take-Two’s board jockeyed to postpone acquisition talk until after the release of the fourth title in the “Grand Theft Auto” series in April, according to EA.

The release of the latest GTA title was delayed from last year, disappointing fans and investors.

GTA is one of the most popular computer games on the market, but also among the most controversial because of its violent nature. Players score points with acts such as carjacking and killing prostitutes or police officers.

“GTA:4″ has received kudos in advance reviews and is expected to be a sales blockbuster. Enthusiasm over the game was already factored into the stock price by the time EA made its offer.

“‘GTA:4′ is a fantastic game and will be the best selling game of the year,” Brown said. “But everybody already had that baked into their assumptions.”

Take-Two’s board on Thursday advised stockholders to “take no action” in response to EA’s “unsolicited” offer.

“Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, Take-Two’s board will review and consider EA’s offer,” the company said in a statement.

Take-Two promised shareholders that it would give them its recommendation and the reasoning within 10 business days. EA’s offer expires April 11.

EA wants to acquire Take-Two and its lucrative titles in time for the year-end holiday shopping season.

“For the life of us, we can’t figure why this would be the wrong time to talk about our offer,” Brown said.

“Our timing is driven by the idea that the value of this asset erodes significantly with time. If we sign a deal by spring or summer and publish their titles by holiday 2008, it is very valuable.”

EA’s offer of 26 dollars per share was 64 percent more than the stock price the day it was made.

The price of Take-Two’s stock rose to 25.64 per share Thursday, while EA’s stock price increased slightly to 4.26, signaling investors see the deal as potentially good for both companies.

Take-Two contends the offer does not properly value the company’s game makers and painfully restructured management.

Take-Two has gone through a half-dozen chief executives, with the most recent executive put in that post a year ago by stockholders upset by the firm’s legal and financial woes.

Rockstar title “Manhunt 2″ earned notoriety last year by being banned in Britain, Ireland and Italy and yanked from shelves of a major retail chain in the United States, where it got a damning “adults-only rating.”

The makers of the game featuring blood-spattered scenes in an asylum won an appeal against British censors that said it demonstrated “casual sadism” and an “unrelenting focus on stalking and brutal slaying”.

Take-Two’s freshly released “Bioshock” title featuring morally-disturbing choices and genetic weaponry has been heaped with awards and praise from gamers, promising to be another hit for the company.

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