Strange as it may seem on the surface, U2 lead singer Bono – Time magazine person of the year in 2005 and Nobel Peace Prize nominee – is, through the firm in which he is a private equity partner, eyeing the acquisition of Take Two Interactive, the maker of the violent video game series "Grand Theft Auto," with a $1 billon bid. Rumors to that effect were first reported in the New York Post, and neither Bono's p.e. firm, Menlo Park, Calif.-based Elevation Partners – nor the hedge fund Pequot Capital (which doesn't boast a Nobel nominee or pop-star good guy) – has denied the reports. Bono's firm may eventually sing a different tune, however, not necessarily because the rocker's humanitarian inclination conquers a business-is-business approach. Rather, industry observers say Take Two – a games industry winner – is fraught with issues, including several shareholder class actions over the so-called "Hot Coffee Affair," an alleged pornographic mini-game embedded in GTA. The company's accounting practices also may come under investigation by the Securities and Exchange Commission, and the fact, according to IGN.com, that "the company is burning through cash at a significant rate" may also scuttle the offer. Perhaps after all that, Bono and his firm will decide they still haven't found what they're looking for.