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Possible Take 2 takeover after shareholder action

Stormy waters ahead for publisher

NEWS: 12 March 2007 10:16 GMT by Chris Ford

Take 2 Interactive, the publisher, could be looking at a takeover according to CNN columnist Chris Morris.

Morris, who reports on CNN/Money, said that many in the know in the games industry are predicting a successful shareholder revolt which will take over the board of directors.

Investors currently hold 46% of Take 2's stock, and with the financial and PR disasters that are still rocking the publisher, it's a possibility that they could remove the board and CEO Paul Eibeler.

If that happens, says Morris, Take Two could be sold in its entirety, and there are lots of potential buyers who would like to get franchises like Grand Theft Auto, with Rupert Murdoch's News Corporation being one of them.

Morris goes on to say that parts Take Two could be sold off, with the exception of Rockstar Games.

Take 2's annual general meeting will take place on March 23.

>> Link - Official Site/Take 2


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