Take-Two Takes Off; Icahn, New Games, No Layoffs
So, let’s sort out some of what’s driving up shares of Take-Two Interactive (TTWO), the video game company best known for its Grand Theft Auto franchise.
- So, for starters, investor Carl Icahn recently increased his stake in the company; TTWO has agreed to give him control of three board seats. He thinks the stock is too cheap. (Duh.)
- Icahn’s involvement has fed into a steady drumbeat of rumors suggesting that the company could still eventually be acquired by Electronic Arts (ERTS); in 2008, the company rejected a $25.74-a-share bid from EA as too low. Always looking out for the shareholders!
