Take-Two Rumored To Be Bidding On VU Games

Take-Two is apparently working with financial partners to come up with a $1 billion offer for the VU Games -- substantially less than the $ 1.6 billion that Vivendi wants for the unit, but more than the $800 million that others have said is a more realistic selling price. VU Games labels include Black Label Games, Blizzard Entertainment, Coktel, Knowledge Adventure, NDA Productions, Sierra Entertainment and Universal Interactive. Other parties reported to be bidding for VU Games are private equity firms Thomas Lee Partners, General Atlantic and Francisco Partners, as well as Bain Capital with TA Associates. Vivendi Universal is struggling with a debt burden of 13 billion euros ($14.35 billion), and plans to raise about half that amount in cash this year by selling off company assets.