Feb. 24 (Bloomberg) -- Electronic Arts Inc., the world's largest video-game publisher, has offered $2 billion in cash to acquire Take-Two Interactive Software Inc.

Electronic Arts has offered $26 a share for New York-based Take-Two, the maker of ``Grand Theft Auto'' video games, the Redwood City, California-based company said today in a statement. The price reflects a 64 percent premium over Take-Two's closing price on Feb. 15, the last trading day before the offer.

Take-Two rejected an earlier bid of $25 per share, prompting Electronic Arts to sweeten its offer and make it public to the shareholders.

``There can be no certainty that in the future EA or any other buyer would pay the same high premium we are offering today,'' said Chief Executive Officer John Riccitiello in a Feb. 19 letter made public today to Take-Two Board Chairman Strauss Zelnick.

To contact the reporter on this story: Nancy Kercheval in Washington at nkercheval@bloomberg.net.

Last Updated: February 24, 2008 15:03 EST