SAC Capital Takes 5.3% Stake in Take-Two
Documents filed with the US Securities and Exchange Commission showed that the fund acquired just shy of 4.1 million shares, worth about mmoabc08 million, for investment purposes.
The hedge fund acquired the stock “for investment purposes, in the ordinary course of business, and not with the purpose or effect of changing or influencing the control or management of the Issuer and without any agreement with any third party to act together for the purpose of acquiring, holding, voting or disposing of equity securities of the Issuer,” reads the SEC filing.
Grand Theft Auto publisher Take-Two is currently facing a sustained takeover attempt by Madden publisher EA. Following the most recent rejection of its $25.74 per share bid for Take-Two common stock, worth around $2 billion, EA extended its tender offer by a month to July 18.
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