Published on March 19th, 2007 | by Deejay Knight, Editor/Founder
Take-Two Considering Sale of the Company?
In a somewhat surprising move, Take-Two Interactive’s investors announced today that they might be looking into possible sale of the company.
A group of prominent Take-Two investors owning 46% of the company’s shares, including OppenheimerFunds, D.E. Shaw Valence Portfolios, S.A.C. Capital Management and Tudor Investment, are looking to remove current CEO Paul Eibeler and bring about changes within the company’s board of directors.
Due to this, Take-Two has announced that it has postponed its annual meeting from March 23rd until March 29th “…to provide additional time to review the proposed actions of the shareholder group and also to evaluate alternative courses of actions that could potentially be presented to the shareholders.”
The main example of an alternative course of action is “a possible sale of the Company”, though the official notice also notes: “There is no assurance that any specific alternative proposal will be forthcoming.”
I’m not completely sure what to say to that, considering the fact that Grand Theft Auto IV is due out this fall – which is almost a guarantee of money by the truckload.
Whether they go through with the sale – and who they sell to – is probably one of the most feared questions for gamers right now. With large companies buying out their rivals becoming commonplace, this gamer is a little afraid of who might do the buying…
Take-Two Considering Sale Of Company [via Gamasutra]