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Tags: Icahn | Stake | Take-Two | Interactive

Activist Icahn Cuts Stake in Take-Two Interactive

Friday, 27 May 2011 09:55 AM

Activist investor Carl Icahn has cut his stake in video game publisher Take-Two Interactive Software Inc., a regulatory filing showed Friday.

Icahn reported an 8.43 percent share stake in Take Two Interactive as of May 26. This is down from the 13.7 percent stake he reported on March 19, 2010.

The 75-year-old billionaire investor is known for shaking up corporations and taking control of companies. His lower stake could signal that Take-Two Interactive is no longer a company ripe for a takeover, as some analysts have said in the past.

In 2008, Take-Two Interactive rejected buyout offers from Electronic Arts Inc.

The video game publisher has been showing renewed financial health in recent quarters. In February, it posted its first profitable year in nearly a decade without a new release of its blockbuster video game franchise "Grand Theft Auto."

A Take-Two Interactive spokesman was not immediately available for comment.

Shares of Take-Two Interactive fell 45 cents, or 2.7 percent, to $16.31 on Friday.

© 2022 Thomson/Reuters. All rights reserved.


FinanceNews
Activist investor Carl Icahn has cut his stake in video game publisher Take-Two Interactive Software Inc., a regulatory filing showed Friday.Icahn reported an 8.43 percent share stake in Take Two Interactive as of May 26. This is down from the 13.7 percent stake he reported...
Icahn,Stake,Take-Two,Interactive
163
2011-55-27
Friday, 27 May 2011 09:55 AM
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