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Take-Two Buying Back Icahn's Stock

The release of Grand Theft Auto V has shaken things up a bit for Take-Two Interactive.

According to a GameSpot report, the publisher is currently in the process of buying back $203.5 million worth of stock from billionaire Carl Icahn, which will end his involvement with the company.

Take-Two intends to buy all of Icahn Group's stock, which numbers just over 12 million shares. They will purchase the stock at yesterday's closing price of $16.93. The two parties had a previous agreement that should the Icahn Group sell its position to the publisher, its board members would resign, which means that Brett Icahn Jim Nelson and SungHwan Cho have left the board.

Said Take-Two CEO Strauss Zelnick:

"On behalf of our board and management team, I would like to thank Brett, James, and Sung for their support, dedication, and service to our organization. They leave Take-Two better positioned than ever for continued success."

Ichan purchased 11 percent of Take-Two shares back in December of 2009. As for how stockholders are responding to the buyback, shares in the company are down 4.5 percent so far.

Tags: take two interactive, take two games, carl icahn

11/26/2013 10:23:49 AM Ben Dutka

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Comments (2 posts)

PlatformGamerNZ
Tuesday, November 26, 2013 @ 5:12:45 PM
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well thats some cash back in the bank for this super rich dude idk how this will affect the games and the possible new IP's and good sequals and stuff from take two.

happy gaming =)

Last edited by PlatformGamerNZ on 11/26/2013 5:12:53 PM

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___________
Wednesday, November 27, 2013 @ 2:49:01 AM
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203M, jesus tap dancing christ im in the wrong industry!
makes you wonder why they want them back though.
anyway, on another note, cant f*cking believe R* is at it AGAIN!
they did a HD remake for GTA3.
they did a HD remake for VC.
and now there doing a HD remake for SA.
but, of course, mobile only!
WTF!??!?!??!?!?!?!?!?!?!?!?!?!?!?!?!?
WTFs the point of doing a HD remake for phones?
1 the graphics cant get that much better, they dont offer the power consoles do!
and 2 the touch screens, im sorry im a big fan of mobile games, but touch screens are USELESS for games like GTA!
for f*cks sake R* snap out of this bullsh*t and bring a HD remake to where it belongs!

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