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.