New York, NY (AHN) - Take Two Interactive Software's board of directors has rejected Electronic Arts' $2 billion takeover bid as "inadequate in multiple respects." The publisher of "Grand Theft Auto" also announced a poison pill designed to give the company time to consider alternative offers.

The six-month poison pill would prevent one investor buying 20 percent in Take-Two or garnering another two percent, if a shareholder already owns more than 20 percent of the company.

On Mar. 13, EA began its bid after Take-Two said it was open to a deal.