Take-Two leads gains after rejecting EA bid
By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Technology stocks showed signs of life in early trading Monday as Take-Two Interactive Software Inc. shares climbed almost 50% after the video game maker turned down a takeover offer from Electronics Arts Inc.
Take-Two (TTWO:
Take-Two Interactive Software
TTWO 26.84, +9.48, +54.6%) shares soared $8.40 to $25.76 after EA said it made a $2 billion bid for the maker of the "Grand Theft Auto" videogame franchise. EA said it made the offer, valued at $26 a share, last Tuesday after offering Take-Two $25 a share earlier this month. Take-Two rejected the bids. See full story.
EA shares fell $1.50, or 3%, to $48.25.
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