Hedge fund SAC Capital has reported that it now owns a 5.3 per cent stake in the common stock of Take-Two Interactive.
According to a Reuters report, the fund filed documents with the SEC showing that it acquired 4.1 million shares - worth about USD 108 million - for investment purposes.
Whether or not this has any bearing on the proposed acquisition by Electronic Arts remains to be seen.
Earlier this month, EA extended its USD 2 billion offer until July 18 to allow the FTC time to finish reviewing the proposed deal on antitrust grounds. Take-Two's board has repeatedly rejected the offer as being too low.
Some analysts have suggested that once the FTC clears the deal EA might make one more "take-it-or-leave-it" offer - potentially for slightly more than its current USD 25.74 per share offer.
If the offer is rejected once again, EA - who has previously said that it wasn't desperate - may walk away from the deal.
Although Take-Two has said that they are talking to other potential buyers, none have been specifically identified and it is difficult to determine who would be in a position to purchase the company if EA does not.