Icahn increases Take-Two stake

Having moved to acquire just over 12 per cent of publisher Take-Two in January, American billionaire Carl Icahn has increased his stake in the firm.

The entrepreneur snapped up a further 700k+ shares overnight, taking his total stake to 13.7 per cent.

Icahn’s grip on Take-Two was demonstrated earlier in the year when he forced the resignation of three board members including former CEO Ben Feder. He subsequently nominated his son Brett, amongst others, as potential candidates for election to the board.

Many believe that Icahn is preparing to position Take-Two for acquisition.