New rumors of Take-Two takeover are starting to surface but it’s a safe bet shareholders won’t be getting a $26 per share offer this time around.
Barron’s has a report on the new takeover rumors, which have driven the company’s stock up considerably for the second straight day of trading. On Thursday, Take Two shares rose by 42 cents to $8.40, an increase of 5.3 percent, while today they jumped a full dollar to $9.40, a 11.9 percent rise.
Of course, that doesn’t even begin to approach the company’s numbers in the heady days surrounding the release of Grand Theft Auto IV, when Take Two was trading over the $25 mark and rejected a takeover bid by Electronic Arts which offered $26 per share. Take Two managed to beat back EA’s advances after a protracted struggle but then found itself rejected by EA when it tried to broker a deal between the companies on its own terms. Take Two’s value plummeted in mid-September after EA wrapped up its attempted acquisition and has slid steadily since, at one point slipping under the $6 mark.
No word yet on who the new suitor might be but I think it’d be positively delicious if EA was knocking on the door again with a bid of roughly half what it was offering a year ago.
via: VG247
Published: Apr 13, 2009 06:43 pm