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Carl Icahn increases investment in Take-Two

Activist investor ups stake to almost 10% in Grand Theft Auto publisher

Activist investor Carl Icahn has increased his stake in Grand Theft Auto publisher Take-Two to almost 10 per cent.

The billionaire was behind disruptions at the publisher in 2010, when three board members stepped down and were replaced with Icahn's nominations - including his own son, Brett Icahn.

Yesterday the investor increased his stake from 8.7 per cent to 9.57 per cent, representing 8,686,074 shares of Take-Two for an aggregate price of $79.9 million. [Note: Icahn did own almost 14 per cent back in 2010, so 10 per cent is not his all-time high]

Last week, the publisher revealed sales of $273.1 million for the second quarter, with a loss of $12.5 million. It downgraded full-year expectations to $1.1 billion, from $1.7 billion.

Icahn, who according to Forbes is worth around $14.8 billion, has very recently shown interest in digital movie company Netflix, forcing the business to take a defensive approach to fend off a potential takeover.

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Matt Martin avatar

Matt Martin

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Matt Martin joined GamesIndustry in 2006 and was made editor of the site in 2008. With over ten years experience in journalism, he has written for multiple trade, consumer, contract and business-to-business publications in the games, retail and technology sectors.