Billionaire scoops up Take-Two stock

Publisher's stock spikes on word that Carl Icahn gained partial ownership of company.

by

Take-Two stock has been rising since an SEC filing revealed that billionaire investor Carl Icahn, who has been called both a corporate raider and a shareholder activist, has picked up a chunk of the company.

Yesterday, a filing by Icahn's money-management firm Icahn Management LP revealed that the group has acquired a little more than 800,000 shares of Take-Two stock, pegging its value at a little less than $8.66 million, or $10.82 per share. That puts Icahn in control of just over 1.1 percent of the company's stock. The news of Icahn's involvement in the company boosted the stock to end today's trading at $11.56, making his stock now worth roughly $9.25 million.

Icahn is number 24 on Forbes Magazine's list of the 400 richest Americans, with an estimated net worth of about $8.5 billion. In the past, Icahn has used his ownership of companies to force management into making changes or buying him out at a profit. Take-Two management has been the subject of much criticism in the wake of a number of scandals involving the rerating of its Grand Theft Auto: San Andreas and an investor lawsuit alleging multiple infractions, including backdating of stock options and "gross mismanagement."

Discussion

49 comments
bboyart
bboyart

TakeTwo is publisher but I don't think that he get to Rockstar and mess with GTA. That's just money game.

rag-un
rag-un

= i just hope he wont screw up the GTA games

siiixon
siiixon

i hope this chease ball dont mess with t2's way of making games

BabyAlf
BabyAlf

So what does thos mean?

carcrazy426
carcrazy426

This is a smart move. He now has a pretty large chunk of change in the company, and with games like GTA: VCS and GTA: IV coming out soon the stock will probably rise, earing him a few more million.

grimreaper91
grimreaper91

useless info kind of but i hope he doesnts destroy t2

lvlUNE3B
lvlUNE3B

It might get effective.. Good luck Take-two once again.

chrisdojo
chrisdojo

now that the stock is up, he should sell :)

Dshenlong
Dshenlong

as much as i love gta...is there really anything they can do to make it any different from the other games.....all that stealing and mugging people got old...and hell you got saints row now too....besides better graphics ill be surprised if they can actually make it interesting or make the same old crap.....ill reserve my judgement till then lol

PyscoJuggalo
PyscoJuggalo

This could be bad for Take 2. Investors do not like dangerous risks like a bunch of whinny parents who have all the time in the world to protest video games but not watch their own kids. He might force Take 2 into being a less risky with content and more conservative...

wenbin09
wenbin09

Great.. maybe he will speed up GTA 4's porduction!!!

_Sam_
_Sam_

that's great for take-two. They weren't doing so well

GMAN32X
GMAN32X

"GTA4 will star Carl Icahn as the main character." While that would be absolutely hillarious, I doubt it would be a good PR move...aside from the fact that it is not going to happen.

metaljeff
metaljeff

He is the 49th richest man in the world.

komatik
komatik

m762, if you can't find any use for this piece of info, it most probably is useless to you, however, believe me, there are people, who will find use for this info.

spidey008
spidey008

This may be for the best. Take Two's managements needs some shaking up after all of the Hot Coffee nonsense.

J-X
J-X

GTA4 will star Carl Icahn as the main character.

blackleech
blackleech

That's going to be painful for T2.

Otto81
Otto81

I hope Carl Icahn (greedy Prick) doesn't loot and destroy Take-Two, like he did to TWA, just so he could get a little richer on the backs of the former employees.

m762
m762

All this info is almost useless... what are we suppost to do about it?

psyhke
psyhke

Ooooooohhhhhhhh....SNAP!! (ps. i don't know what i'm talking about.)

Wej_accept_it
Wej_accept_it

Smart man, getting behind GTA. Their going to rise real high within the next year or so with the next-gen GTA games. Those will be like GTA:SA but with the physics of Half Life 2 and the graphics of Splinter Cell: Chaos Theory, think about it...

higk
higk

man, everyting is in stock, you kno how to play the market, and you got it made.

soniqstylz
soniqstylz

>>Digital Devil, you mean like Bully or Table Tennis? >>or Mindnight Club? Or Oblivion, or the entire 2KSports (MLB, NHL, NBA) series, or The Warriors, or Prey, or Cilvilization IV, or Manhunt.......

ssj4_2004
ssj4_2004

I hope he use's Take2 to make profit for his rich self... He's done it before, and hopefully he'll do it again.

thescorpion1983
thescorpion1983

Hes an investor, hes not gonna change anything about Take-Two, hes there to make money, and knows how to do it, Take-two will continue doing their job : making great games! He made 1million, just during a couple of days and hes only there for that! My 2 cents

Ekustix
Ekustix

I hope he doesn't mess things up, would also suck if he just used Take2 to make profit for his rich self... He's done it before, and thats exactly what he's doing again.

tek-9
tek-9

whats with all the gta abuse? its the original go anywhere do anything game! anywhoo, i wish i had the casharolla when theyre stock dived after hot coffee.

ssjtrunks6
ssjtrunks6

It only took me 6 days to beat this game after it came out, it was good while I played it...still good, I just dont play it anymore

rgsniper1
rgsniper1

gameloverx Let's just hope that this millionare buys take 2 and forbids them to make anymore GTA games -------- Most intelligent thing ever said on these forums.

tyler2010
tyler2010

Digital Devil, you mean like Bully or Table Tennis? or Mindnight Club?

bulldog7
bulldog7

seriously, why hasn't microsoft sought out these stocks yet? In any case, i just hope that no one buys this company up and makes it's games exclusive. They ought to be for multi platforms.

gameloverx
gameloverx

Let's just hope that this millionare buys take 2 and forbids them to make anymore GTA games

wildsoul0509
wildsoul0509

do you want to give me 1000 dollars, i'm so broke :cry: but is all right that millionaires show interest in video games, lucky them that can buy all they want

Moe_81
Moe_81

Nice to see that the rich are investing in gaming. Smart move since gta 4 is coming next year and is gonna make a killing. Halo is overated.

ddalet
ddalet

guaranteed way not to mess up and make millions: make next gta for the console an MMO. take note.

Zilor
Zilor

Digital Devil, you mean like Bully or Table Tennis?

gan283
gan283

the guy earned over half a mil just by buying stock, that is pretty impressive,

Xendercide
Xendercide

It's nice to see the rich get richer.

Digital-Devil
Digital-Devil

How about we see something...that...ISN'T...GTA...that just might work

ConManWithGun
ConManWithGun

i hope that means they get more money to make better games

ultimate_zero
ultimate_zero

people will try anything to get rich these days, oh well, as long as we get the next grand theft auto I'm happy.

Donkeljohn
Donkeljohn

That would definitely be boon to the ailing publisher

Digital-Devil
Digital-Devil

Oh well, Take 2 doesn't make anything i care for really so

rdo
rdo

hmmm i wonder if he owns more sony or ms stock?

gnbfd
gnbfd

second. wow glad it wasn't gates

joeamis
joeamis

I hope he doesn't mess things up, would also suck if he just used Take2 to make profit for his rich self...