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Investor "activist" buys into Take-Two

updated 09:55 am EDT, Wed August 16, 2006

"Activist" Take-Two shares

In a related story, billionaire and professional investor Carl Icahn has bought 800,000 shares of Take-Two stock, giving him a 1.1% ownership of the publisher. News of the buy-in raised the stock's price from $10.82 to $11.56 US. Icahn has a reputation for using his monetary muscle to force changes at a company, or else reclaim his investment at a profit. The timing of his buy-in therefore raises some interesting questions, as Take-Two is coping with lawsuits and a Securities and Exchange Commission investigation.




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