Icahn investment prompts Take-Two share jump
GTA publisher stock gains 7.6% as investor raises stake to 2.5% of the company
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Share in Take-Two have jumped by 7.6 per cent to USD 8.81 following an increase in investment of the company by well-known financial guru Carl Icahn.
Icahn raised his stake to over 2 million shares, approximately 2.5 per cent of the Grand Theft Auto publisher, which is fuelling speculation of a new acquisition bid, reports Barrons.
A multitude of posts on the issue are pointing back to the rejection of a bid from EA in the order of USD 26 last year, although that was before the global economic slowdown hit markets and forced prices down across the board.