Icahn increases stake in video game maker Take-Two

Thu Nov 8, 2012 8:38pm IST

Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference, held at the New York Stock Exchange, June 27, 2007. REUTERS/Chip East/Files

Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference, held at the New York Stock Exchange, June 27, 2007.

Credit: Reuters/Chip East/Files

Related Topics

Stocks

   

REUTERS - Activist investor Carl Icahn raised his stake in video game publisher Take-Two Interactive Software Inc (TTWO.O) to 10.6 percent from 9.5 percent, according to a regulatory filing on Thursday.

This is the second time in a week that Icahn has scooped up stock in Take-Two.

Shares of the company rose 2.8 percent to $11.17 in morning trade on Thursday.

"It seems like his buying is a vote of confidence in the pipeline of the company," said Sterne Agee analyst Arvind Bhatia. The next edition of its popular "Grand Theft Auto" video game is due out next year.

Take-Two has long been considered a potential acquisition target - Electronic Arts Inc (EA.O) made moves to buy it in 2008.

Meanwhile, Icahn recently took a 10 percent stake in Netflix Inc (NFLX.O) because he believes the streaming video and DVD rental company is undervalued and an attractive acquisition target.

(Reporting By Jennifer Saba and Liana Baker in New York)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Wearable Gadgets

A woman looks at watches at a Swatch store at Zurich central station July 24, 2012. REUTERS/Arnd Wiegmann/Files

Swatch plans fitness-based touch wristwatch, CEO tells paper

Swatch plans to equip its Swatch Touch line of plastic watches with electronic functions to measure personal fitness, in a bid to tap into the market for wearable gadgets, the company's chief executive told a newspaper.  Full Article 

TECH SHOWCASE

Testing Times

Testing Times

Analysis - Amazon's far-reaching ambitions, lack of profits, unnerve investors.  Full Article 

IPO Probe Over

IPO Probe Over

Facebook says SEC's IPO probe ends, extending WhatsApp closing date  Full Article 

Right to be Forgotten

Right to be Forgotten

Europe debates how far to push 'right to be forgotten'  Full Article 

Privacy Concerns

Privacy Concerns

Apple iPhones allow extraction of deep personal data, researcher finds  Full Article 

Media Powerhouse

Media Powerhouse

BSkyB to pay $9 billion to create Sky Europe.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage