Just to add to Greg's post, EA has set up a special site to explain its plans to buy Take-Two. An open letter from the company's big boss John Riccitiello promises creative autonomy for its potential purchase:
I like to think that we learn from our experience. When I came back to EA last year, we introduced a new organization model that respects creative cultures and gives developers more freedom. We call it the "Label" model because it treats each of EA's four labels as a sovereign entity responsible for its own creative decisions and business results. We expect each team to operate on a profit plan and, in exchange, we provide investment, infrastructure and a lot of creative freedom.
This, of course, reflects his recent keynote, where the disastrous purchases of Bullfrog and Westwood were held up to withering scrutiny. There's more at Gamesindustry.biz, where EA reveals that it waited for GTA IV to be finished before making its corporate pass at Take Two. Say what you like about EA, it's a sensitive suitor.