informa
News

Icahn Buys 1 Million More Take-Two Shares

Activist investor Carl Icahn has boosted his stake in publisher Take-Two (Grand Theft Auto) with the purchase of over a million shares, making him now a 12.3 percent stakeholder in the company.
Activist investor Carl Icahn has boosted his stake in publisher Take-Two with the purchase of over a million shares, making him now a 12.3 percent stakeholder in the company. Icahn has a history of taking large stakes in companies facing troubled waters and then pressing changes he believes will improve its share price. Grand Theft Auto publisher Take-Two recently closed out its fiscal year with a 137.9 million net loss. Veteran firebrand Icahn recently selected three new nominees for Take-Two's board. The election of Icahn's nominees would mean CEO Ben Feder, while remaining chief executive, will no longer have a board seat. Take-Two chairman Strauss Zelnick stressed that the board members chose not to stand for re-election and were not asked by Icahn to step down. Zelnick is a longtime colleague of Icahn's -- Icahn arranged for Zelnick and himself to join the board at Blockbuster, for example. Icahn bought the shares at prices ranging from 9.21 to 9.24. The stock has been declining since its high in the $27 range in June 2008 following the success of Grand Theft Auto IV and during the takeover attempt by Electronic Arts, which bid $25.74 per share for the company.

Latest Jobs

Infinity Ward

Woodland Hills, California
11.3.21
Sr. Multiplayer Design Scripter/Programmer

Disbelief

Cambridge, Massachusetts
11.3.21
Jr. Programmer

XSEED

Torrance, California
11.3.21
Head of Marketing
More Jobs   

CONNECT WITH US

Register for a
Subscribe to
Follow us

Game Developer Account

Game Developer Newsletter

@gamedevdotcom

Register for a

Game Developer Account

Gain full access to resources (events, white paper, webinars, reports, etc)
Single sign-on to all Informa products

Register
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more