Take-Two plunges after Electronic Arts walks away from take over bid
Shares of Take-Two Interactive Software, Inc. (Nasdaq: TTWO) are plummeting this morning after the developer of entertainment software games said Sunday that Electronic Arts Inc.’s (Nasdaq:ERTS) no longer intends to acquire Take-Two at this time.
“We remain actively engaged in discussions with other parties in the context of our formal process to consider strategic alternatives,” Strauss Zelnick, Chairman of the Board of Take-Two said in a statement.
Shares plunged 27%, or $5.96, to $15.93 in the first half hour of trading. For detailed price information and news stories on Take-Two, click TTWO.
