Thursday, March 8, 2007
A group of Take Two investors, holding a total of 46% of shares, announced yesterday that it intends to take control of the company. Take Two has been much in the news lately because of civil and criminal charges relating to stock option backdating and low profits. The investors include several hedge and mutual funds. Take-Two issued a statement saying it was pleased that the investors recognized its value. See NYTimes, Shareholders of Take-Two Plot a Revolt and WSJ, Take-Two Shareholders Are Plotting Board Battle.