EA said Monday that it would extend its its tender offer for all Take-Two shares from July 18 to August 18 this year.

The firm said the extra time will allow the Federal Trade Commission to continue its review of the proposed transaction.

The total amount for the hostile bid is over $2.1 billion, with EA offering $25.74 per Take-Two share.

About 15 percent of Take-Two's total shares have tendered into EA's offer.

Take-Two chair Strauss Zelnick said the company's board continues to unanimously recommend that investors not tender their shares to EA.

"We are fully engaged in a formal process to evaluate strategic alternatives that have the potential to deliver greater value than EA's inadequate offer," he said in a press statement responding to EA's extension.

"As part of this process, we continue to engage in meaningful discussions with multiple parties, a number of whom have been conducting due diligence."