Take-Two (TTWO) Screws Shareholders, Shares Down Almost 30%

Posted: September 15, 2008 at 8:42 am

R218533_855025Take-Two Interactive (TTWO) could have taken an overly generous offer from Electronic Arts (ERTS). Instead, it held out for a higher price and hinted that it had other buyers.

The ERTS bid was worth $25.74. Take-Two changed hands at about $15 before the offer. Today its shares are off 28% to $15.75.

The board and management may want to find themselves outstanding attorneys.

Douglas A. McIntyre

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