Earlier this month, Electronic Arts launched a hostile bid to purchase Take-Two Interactive (best known for its Rockstar label and Grand Theft Auto games. Take-Two has finally formally responded to EA’s hostile bid, rejecting the offer and instructing its shareholders to ignore EA’s offer.

Furthermore, Take-Two has implemented “poison pill” measures designed to prevent a hostile takeover. Details on some of these measures can be found here. These actions are ironic, given that the current management of Take-Two arrived in this position by pushing out the old management in a similarly hostile move. The financial community is concerned that Take-Two’s poison pill measures are protecting the interests of current Take-Two executives, rather than the interests of shareholders.