Take-Two, which managed to avoid being assimilated by Electronic Arts in last year’s long-running takeover saga, may be the target of a new buyout, according to Barron’s.
The financial news service attributes a recent rise in the share price of TTWO to takeover rumors:
Take-Two Interactive (TTWO) shares are up sharply for the second straight session on a revival of rumors that the video game company might be a takeover target… Last Thursday, the stock was hopping on what TheFlyOnTheWall.com [subscription req.] described as “renewed takeover chatter.” That apparently continues today.
As I post this, TTWO is up to 9.45, even though Wall Street itself is down.
UPDATE: Reached for comment by GamePolitics, Wedbush-Morgan financial analyst Michael Pachter pooh-poohed T2 takeover rumors:
I don’t see anyone making a move, given that management rejected EA’s $26 offer [last year]. It’s hard to see how anyone would pay more in this market, and I don’t know that Take-Two management would entertain an offer lower than $26 given their rejection of EA’s offer.