Take-Two Interactive Software Prices $2.7 Billion Senior Notes Offering

April 13, 2022

Willkie advised Take-Two on the public notes offering in connection with the pending $12.7 billion acquisition of Zynga.

On April 7, Take-Two Interactive Software, Inc. announced that it agreed to sell in an underwritten public offering $2.7 billion aggregate principal amount of its Senior Notes, consisting of $1.0 billion of its 3.300% Senior Notes due 2024, $600 million of its 3.550% Senior Notes due 2025, $600 million of its 3.700% Senior Notes due 2027, and $500 million of its 4.000% Senior Notes due 2032.

Take-Two intends to use a portion of the net proceeds from the offering, together with cash on hand, to fund the cash portion of the consideration for its pending acquisition of Zynga Inc. and the expected settlement of outstanding convertible notes issued by Zynga, and related costs and expenses.

Willkie is advising Take-Two on its approximately $12.7 billion acquisition of Zynga, and previously represented the company in its acquisitions of mobile game developer Playdots, simulation game Kerbal Space Program and mobile game developer Social Point, as well as in the launch of NBA 2K eLeague.

Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher and marketer of interactive entertainment for consumers around the globe. The company develops and publishes products principally through Rockstar Games, 2K, Private Division and T2 Mobile Games.

The Willkie team was led by partner Sean Ewen and included associate Marisa Weisbaum and law clerks Candace Mashel and Emily Tu.