In mid February 2008, EA proposed an acquisition of Take-Two Interactive for about $2 billion. According to Game Informer's April issue, EA CEO John Riccitiello said that EA considered a deal for Take-Two last spring but axed it at the last minute. Take-Two's board of directors declined the cash deal. But EA is still pursued at acquiring Take-Two by stating in its letter, "If you are unwilling to proceed on that basis, however, we may pursue other means, including the public disclosure of this letter, to bring our offer and the compelling value it represents to the attentions of Take-Two's shareholders." Later, Take-Two released a statement explaining why the company has rejected the offer, "In addition to undervaluing key elements of our business, EA's proposal fails to recognize the value we are building through our ongoing turnaround efforts, which will further revitalize Take-Two." Take-Two has offered to discuss the offer, after Grand Theft Auto IV comes out on April 29th. EA's proposed takeover of Take-Two is an obvious response to the big merger between Activision and Vivendi. If EA does acquire Take-Two, it will end the company's main competition in the sports genre of videogames. Both EA and Riccitiello believe that they can take Take-Two's games and sell more of them.[9]