Take-Two’s ongoing struggle against Electronic Arts’ current acquisition offer is leading to radically different predictions from analysts.

MCV has reported that Goldman Sachs analyst Mark Wienkes, speaking just prior to the release of Take-Two’s statement reiterating their rejection of EA’s initial acquisition effort, said he believes EA will increase its offer beyond the current level of $26 per share. He also strengthened his recommendation of EA shares, based on his belief that their value will continue to rise as a result of “continued industry growth, up to 14 new game titles coming in the summer and fall, and clarity around the Take-Two bid.”

Michael Pachter of Wedbush Morgan, however, feels Take-Two management has made a mistake with the approach, saying, “We’re frankly surprised by Take-Two’s rejection of EA’s offer. Although many of the points raised by Take-Two’s board are entirely true, we are somewhat amused that they are raised as negotiating points.”

“We think that the board has virtually no chance of finding a better offer,” he continued. “In our view, Take-Two’s board has made a mistake. We believe that the company was positioned to extract a higher offer from EA by offering a friendly transaction, and its board chose to continue its adversarial posture.”

“We think that Take-Two’s position that the company will have greater value after the release of Grand Theft Auto IV is naive at best, and disingenuous at worst. We think that the strategy adopted by Take-Two’s board was ill-advised.”

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