The clock is ticking down on Electronic Arts's takeover bid for publisher Take-Two, and the company remains steadfast in its refusal to buckle. But the publishing giant doesn't seem ready to give up so easily.

When Electronic Arts made their initial offer of $25.74 a share in late February, a much higher premium than what Take-Two was trading for at the time, they apparently expected Take-Two to immediately jump on the offer, according to Wedbush Morgan analyst Michael Pachter in an article from Forbes. But when Take-Two chairman Strauss Zelnick stonewalled, EA was stumped.

Now, with Grand Theft Auto IV on the market and Take-Two shares hovering around $26.59 a share, the takeover attempt seems to be at an impasse. Though Rockstar, 2K Boston, and 2K Sports remain tempting targets, there are other issues that may complicate the deal.

Many analysts can't agree on how much Take-Two is really worth, and any takeover would probably necessitate a special deal with Rockstar. Founder Sam Houser has previously stated that working with a larger publisher would mean wanting a larger share of the profits.

Speaking at a Tuesday press conference, EA CEO John Riccitiello dismissed questions about Take-Two but reiterated that one of EA's core goal over the next three years is making acquisitions. With the deadline on the current offer set to expire noon Friday, Pachter reckons that another extension is likely.