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Activist Investor Icahn Ups Stake In Take-Two

According to an SEC filing reported by CNN, investor Carl Icahn and his Icahn Capital Management limited partnership have bought additional stakes in Take-Two Interactive, representing a renewal of interest on Icahn's part after he sold about half his sta
According to an SEC filing reported by CNN, investor Carl Icahn and his Icahn Capital Management limited partnership have bought additional new stakes in Take-Two Interactive. The activist investor first purchased a small (1.1 percent) stake in the publisher/developer last year as part of a move that was generally interpreted as an interest in taking the reins of Take-Two's future. However, early in 2007 Icahn sold 0.9 of his 2.8 million shares, cutting his investment to 1.9 million shares in the same month that Take-Two former CEO Ryan Brant pled guilty to falsifying information in the company's stock backdating legal battle. Icahn's divestment was considered an expression of growing disinterest with Take-Two during a difficult period in the company's history. The investor, who also bought shares of Harrah's Entertainment and Genzyme Corp and sold shares of Kraft Foods and Clear Channel, became known as a corporate raider following his hostile takeover of TWA in the mid-80s, and is noted for buying up minority shares in companies and then campaigning for changes that might affect the company's share price positively.

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