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.