Top
80°

Takeover Rumors Raise Take-Two Stock

Wall Street reports suggest Take-Two Interactive is back on the buyout block.

Rumors circulated from unknown sources this morning suggested that buyout talks for Take-Two Interactive, potentially by Electronic Arts, have been renewed as institutional investors increased their trading activity by an additional half million shares today. A post on America Online's BloggingStocks blog by TheFlyOnTheWall, a stock news and rumor paid subscription service, says, "Unconfirmed and renewed buyout chatter is circulating about [Take Two] this morning."

A financial meeting to be hosted by Lainie Goldstein, Take-Two's Chief Financial Officer, and Cindi Buckwalter, the company's Executive Vice President, in London at 6:00 a.m. EDT was unexpectedly delayed.

Shares of Take-Two skyrocketed approximately 6 percent by 11:00 a.m. when the price reached its intra-day peak of $17.93. The stock closed at $17.43, up 2.53 percent from its opening price of $17.14.

Read Full Story >>
escapistmagazine.com
The story is too old to be commented.
kn3561d ago

Anyone but EA. They will milk the few good IPs they have for everything they are worth while driving them into the ground...