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Take-Two (TTWO) Screws Shareholders, Shares Down Almost 30%
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Take-Two Interactive (TTWO) could have taken an overly generous offer from Electronic Arts (ERTS). Instead, it held out for a higher price and hinted that it had other buyers.
The ERTS bid was worth $25.74. Take-Two changed hands at about $15 before the offer. Today its shares are off 28% to $15.75.
The board and management may want to find themselves outstanding attorneys.
Douglas A. McIntyre
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