Hedge fund acquires 5.3% stake in Take-Two

SAC Capital has reported acquiring 4.1 million shares for investment purposes amidst EA's attempted acquisition

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.

More stories

Take-Two CEO skeptical of Oculus' broad appeal

Zelnick concedes Rift is an "anti-social" technology, but says it could be great for core gamer audience

By Brendan Sinclair

Zelnick: 2K Marin now "responsible for" Bioshock franchise

And Take-Two CEO calls Red Dead Redemption a "permanent franchise"

By Rachel Weber

Latest comments

Sign in to contribute

Need an account? Register now.