Reaffirms potential ease of EA buyout
Stock in Take Two Interactive closed down 9 cents on the day, to $26.26, on the news that Grand Theft Auto IV is the fastest selling entertainment property in history.
Even with the official word that the game raked in $500 million in sales for the company, and that the first day sales of $310 million beat out the whole week’s take of Halo 3, shares remained flat, peaking to $26.58 before falling and closing in the red.
The news may confirm the ability of Electronic Arts to take over Take Two with hostility. Many analysts speculated that T2′s stock price–which jumped immediately after EA expressed interest a few months back–built in both the expectation that GTAIV would do well, and that EA would eventually be successful in its buyout.
There has been no word from either company’s camp as to how this news will impact takeover talks.
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