Benjamin Schachter, a high-profile analyst working for banking giant UBS, has said that Electronic Arts should eventually succeed in their bid to buy out IV publisher Take-Two, but that the deal could take some time to conclude.

A deal in the 26 to 28 USD range is likely, according to Schachter, shares in the publisher presently riding above EA's current offer price of 25.74 USD per share.

Take-Two's board believe the offer undervalues the company, buy the analyst says shares are only up because of EA's attempts, although we assume the epic success of GTA IV can hardly be a hindrance.

"This is based more on deal speculation than underlying value," he says, adding that this could mean any deal will be "protracted".

EA have now extended their offer period for the publisher.

By Luke Guttridge