The drawn out deal between Take-Two and EA should have been completed months ago, but now EA says that the clock has finally run down. The deadline for the agreement has already come and gone five times and is beginning to look somewhat like the Microsoft-Yahoo saga that never happened. Take-Two has been unhappy with what it calls a 'low price' causing Electronic Arts to extend deadlines in order for the two companies to come together and shake hands.

The proposed merger still needs to pass muster with the Federal Trade Commission over possible antitrust issues.

EA stated over the weekend that it would accept a financial presentation by Take-Two outlining a three year product release schedule along with financial projections supporting the claims to the company's true value.

Shares of Take-Two, the makers of the smash hit series Grand Theft Auto, slid on Monday to $24.01. The price however, is still well above the $17.36 of February 22 when the EA offer went public. With the holiday season looming on the horizon and without a deal being agreed to it could be too late to for EA to take full advantage of the increase in sales forcing it to step away from the deal. Well that's the angle being pitched.

Shares of Redwood City, based EA slipped 18 cents to $48.06.

The gamesmanship which has been going on is likely to culminate in an agreement, hopefully by the end of a the week, analysts expect something between $26-$27 to close the deal so Take-Two and EA can avoid a take-six.