November 27, 2013
Take-Two Interactive Software, Inc. repurchases all of the Icahn Group’s stock in the company for approximately $203.5 million.
On November 26, Willkie client Take-Two Interactive Software, Inc. announced that it has repurchased all of the Icahn Group’s stock in the company at a price of $16.93 per share, or a total purchase price of approximately $203.5 million for the 12.02 million shares. The transaction is part of an ongoing strategy by Take-Two to buy back its shares. The deal calls for the resignation of all three of Icahn Group designees to Take-Two’s Board of Directors.
Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, marketer and publisher of interactive entertainment for consumers around the globe. The company develops and publishes products through its two wholly owned labels Rockstar Games and 2K. Earlier this year, Willkie represented Take-Two in its acquisitions of the World Wrestling Entertainment Inc. video game franchise and "Evolve" (working title) video game title from THQ Inc., as well as in a $250 million bond offering and redemption of outstanding notes. The current deal was handled by partner Adam Turteltaub and associate Sean Ewen.
