It's finally the day where all gamers can rejoice for the fact that EA has dropped there $2 billion bid to acquire Take-Two. This comes to us as a shock after the Federal Trade Commission said a few weeks ago that it had conducted an investigation of a merger of the companies, but said no further action was required and closed the investigation.  EA released a statement earlier on Sunday and had this to say.

"After careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software, EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two," EA said in a statement Sunday.

Over at Take-Two they released this statement

“We remain focused on creating value for our stockholders and our consumers. This has been our goal since EA launched its conditional and unsolicited bid six months ago, a bid which was repeatedly rejected by our stockholders. As part of that commitment, we remain actively engaged in discussions with other parties in the context of our formal process to consider strategic alternatives.”

Source: CNet News