Electronic Arts Inc. has announced that it has proposed to acquire Take-Two Interactive Software, Inc. in an all-cash merger valued at approximately $2.0 billion (thanks: Blues). EA's proposal was contained in a letter sent on Feb. 19th by EA Chief Executive Officer John Riccitiello to Strauss Zelnick, Executive Chairman of the Board of Directors of Take-Two. The Take-Two Board’s subsequent rejection of the EA proposal led to EA’s decision to release the letter and bring its proposal to the attention of all Take-Two shareholders. Press 'read more' for details.