In February 2008, Electronic Arts (ERTS) offered to buy Take-Two Interactive (TTWO) for $2 billion, about $19 a share. EA later raised the offer to $26. Take-Two management thought it could do better and EA let the offer expire in August of that year.
The transaction would have made sense for both video game companies. EA's huge distribution system would have Take-Two products like Grand Theft Auto. Combining the two companies would almost certainly have allowed for some expense savings.