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."