Saturday, 25 June 2016
Last updated 1 day ago
Nov 26 2013 | 11:15am ET
Take-Two Interactive Software has rid itself of one turbulent shareholder.
The videogame company said today that it was buying out Carl Icahn, who owned a 12.9% stake. At yesterday's closing price, that amounts to an 81% gain on the investment, which Icahn made in 2010.
In exchange for the $203.5 million, Icahn's three representatives to Take-Two's board, including his son Brett, have resigned. That was part of the deal Icahn struck with Take-Two four years ago.
Take-Two is best known for its "Grand Theft Auto" franchise.