After seven months of back and forth, Electronic Arts (NSDQ: ERTS) has terminated its takeover talks with game publisher Take-Two. It announced in a statement today that “while EA continues to have a high regard for Take-Two’s creative teams and products, after careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software, EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two.” This after FTC cleared EA’s bid in August, and it seemed the two were in confidential negotiations to come to some agreement. EA first offered $26 per share in February, and then lowered to $25.74.

Meanwhile, TT has also come out with a statement: “We remain focused on creating value for our stockholders and our consumers. This has been our goal since EA launched its conditional and unsolicited bid six months ago, a bid which was repeatedly rejected by our stockholders. As part of that commitment, we remain actively engaged in discussions with other parties in the context of our formal process to consider strategic alternatives,” said Strauss Zelnick, chairman of the board of Take-Two. It goes on to say that “business has continued to strengthen since the time EA first made its offer,” which doesn’t necessarily fit with EA’s view.