Take-Two Shares Fall As Shareholders Cut Stakes
by March 10, 2008 @ 10:51 pm
According to a Reuters report, two of the biggest shareholders in Grand Theft Auto publisher Take-Two cut their stakes in the company today, presumably in response to Take-Two’s notion that Electronic Arts’ $2 billion buyout bid “substantially undervalues” the company.
Mutual funds company and Take-Two’s biggest shareholder, Oppenheimer, slashed its holdings to 8.8 million shares, or 11.5 percent, down from the 23 percent stake it previously held. Meanwhile, FMR LLC dropped its stake in the company from 14.7 percent to only 2.75 percent. Both firms neglected to comment on the decision of selling their shares.
Take-Two shareholders slash stakes [Reuters]
Follow this author on Twitter.
