UPDATE: Cohen's SAC Capital Accumulates 5.3% Stake In Takeover Target Take-Two Interactive (TTWO)
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UPDATE: In a 13D filing on Take-Two Interactive Software Inc. (Nasdaq: TTWO), Steven Cohen's SAC Capital disclosed a 5.3% stake (4,099,540 shares). The hedge fund did not show a stake in TTWO at the quarter ended 03/31/08. A 13D indicates a possitive 'activist investment.'
In a pretty standard disclosure, SAC Capital did not make any direct requests on Take-Two, but said they will monitor their investment and may enter discussions with management, the Board of Directors or others.
SAC Capital paid approximately $107,576,865 of investment capital to purchase the 4,099,540 shares of Take-Two (about $26.24 per share).
Take-Two Interactive has been fighting a $26/share unsolicted takeover offer from Electronic Arts (NASDAQ: ERTS) since March.
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