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Icahn buys another million Take-Two shares

By Matt Martin

Fri 29 Jan 2010 3:41pm GMT / 10:41am EST / 7:41am PST

Investor increases stake in Grand Theft Auto publisher to 12.3%

Take-Two investor Carl Icahn has bought over a million shares in the company over the past three days, according to a Securities and Exchange Commission filing.

He now owns a 12.3 per cent stake in the company, up from 11.3 per cent, after buying shares priced between $9.21 - $9.24 per share.

The move comes a week after he initiated a board change at Take-Two, nudging out CEO Ben Feder, Grover Brown and John Levy and putting forward his son Brett Icahn, James Nelson and SungHwan Cho for a vote at Take-Two's annual stockholders meeting.

Known as an activist investor, he has previously pushed for change at companies including Yahoo and Time Warner. He also sits on the board of Blockbuster, alongside Take-Two chairman Strauss Zelnick.

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