Icahn increases stake in Take-Two
Investor now claims 13.7 per cent of Grand Theft Auto company
Activist investor Carl Icahn has increased his stake in Grand Theft Auto publisher Take-Two.
According to an SEC filing, after increasing his shares to a total of 11.6 million, Icahn now owns 13.7 per cent of Take-Two stock.
The billionaire originally took an interest in Take-Two in 2006, but has only seriously been increasing his stake since last December.
In January Icahn instigated a board change at Take-Two, nudging out CEO Ben Feder and two others, a move welcomed by chairman Strauss Zelnick.
While some expect Icahn to push for a sale of the company in the long term, he is currently pursuing interests in movie business Lions Gate – in a similar move, he gradually grew his stake in the business, had his bid to raise his stake in the studio rejected, and is now in the middle of a hostile takeover for the entire company.