Thursday, 28 May 2015
Last updated 24 min 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…