Take-Two shares spike amid Activision buyout rumours

Rumours regarding a potential buyout of Take-Two by fellow publisher Activision had the former’s stock soaring at the conclusion of last week.

Benzinga reports Take-Two shares were up 4.14 per cent at the end of Friday. Activision’s stock rose .21 per cent as well.

The spur was brought on by Benchmark analyst Mike Hickey’s comments concerning the matter in a note released earlier in the day:

"For Activision, acquiring Take-Two Interactive would be a no brainer, in our view, circling some of the strongest development talent and owned IP in the world, within a Company that has nearly $1bn in cash and trades at a comparably lower multiple,” Hickey said.

EA unsuccessfully attempted to purchase Take-Two for $2bn in 2008.