Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
June 23, 2017
arrowPress Releases






If you enjoy reading this site, you might also want to check out these UBM Tech sites:


Take-Two Shareholders Reduce Investment
Take-Two Shareholders Reduce Investment
March 11, 2008 | By David Jenkins

March 11, 2008 | By David Jenkins
Comments
    1 comments
More: Console/PC



The two largest shareholders in Take-Two Interactive have reduced their stakes in the publisher and owner of Grand Theft Auto developer Rockstar Games, as an apparent further example of shareholder unrest following EAs proposed takeover.

Take-Twos biggest shareholder, U.S. based mutual fund company Oppenheimer Funds, cut its share holdings from 23 percent to 11.5 percent on Monday. At the same time FMR LLC, parent company for the Fidelity mutual funds, has dropped its stake, previously the second largest of all Take-Twos investors, from 14.7 percent to 2.75 percent.

Neither company has commented on the reasons for the sale, although analysts are linking it with concern over Take-Twos handling of the proposed takeover by Electronic Arts.

"To the extent there was speculation that shareholders would band together and hold out for more money from EA, that's kind of shot down now," said Wedbush Morgan analyst Michael Pachter in a Reuters interview.

Take-Two executives had previously declined the $1.9 billion acquisition offer from Electronics Arts, claiming that it undervalued the company. Although chairman Strauss Zelnick has indicated that he is happy to further discuss the possibility of a takeover after the release of Grand Theft Auto IV, he also recently indicated in an interview that he saw Take-Twos future as that of an independent company.


Related Jobs

Wargaming.net
Wargaming.net — Chicago, Illinois, United States
[06.23.17]

Software Engineer (Audio)
Wargaming.net
Wargaming.net — Chicago , Illinois, United States
[06.23.17]

Lead Tools Engineer
YAGER Development GmbH
YAGER Development GmbH — Berlin, Germany
[06.23.17]

Gameplay Programmer (f/m) for Dreadnought
2K
2K — Novato, California, United States
[06.23.17]

LIVE OPS MANAGER - NBA 2K









Loading Comments

loader image