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Take-Two Interactive shares jump after Sony acquisition rumors

Take-Two Interactive shares jump after Sony acquisition rumors

March 13, 2019 | By Alissa McAloon

Update: A Sony representative has put this rumor to rest, saying in a statement picked up by VentureBeat that “we do not know where the rumor is coming from, but there is no such plan.” Original story follows: 

Shares of Rockstar Games parent company Take-Two Interactive jumped after rumors that Sony could be in talks to acquire the company began circulating in investing circles.

MarketWatch reports that Take-Two Interactive’s stock saw a 4.7 percent increase based on the rumor that Sony is currently “in advanced board level discussions to acquire Take-Two Interactive in a mostly cash deal,” according to Wedbush Securities' head of technology and media trading Joel Kulina. 

It’d be a sizable acquisition, and one that would value the company at $130 a share according to those same sources. While just a rumor at this point, the move would significantly bolster Sony’s first-party development forces and mirror some of the efforts made by fellow console-maker Microsoft through its recent acquisitions of Obsidian Entertainment and several other studios

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