Take-Two Interactive shares jump after Sony acquisition rumors

Mythbusted

He refuted his comments about the rumor.

Responding to an inquiry from GamesIndustry.biz, Kulina denied making any such statement, outside of the above mentioned note. "I am not the source of this story in any regard". As the news has begun circulating, Take-Two shares have begun climbing, jumping almost 5.4% since the rumor broke. The MarketWatch authors further confirmed this by saying that Kulina's original note was their source.

MarketWatch reports that Take-Two Interactive's stock saw a 4.7 percent increase based on the rumor that Sony is now "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. According to recent rumblings, Sony might be seeking to acquire Take-Two Interactive Software, publisher of games like Mafia 3, Borderlands, and Red Dead Redemption. It's said to be looking at a "cash deal", value the company at $130 share, per Joel Kulina of Wedbush Securities. "In terms of timing, [Take-Two] stock was well up before his email went out, so it was not his dissemination of the rumor that sparked the move", Matthews tried to make clear that their article was not what caused the sudden jump for Take-Two, but rather was a response to it, looking for an explanation for the increase.

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At this stage, it's not clear what an acquisition would mean. Home to such brands as GTA and Red Dead Redemption's Rockstar Games and sports giant 2K Games, the very thought of Take-Two Interactive being drafted into the Sony family had tongues wagging over the possibility of a new console war and many many other hot takes. However, it would be a roundabout way for Sony to own Agent, the lost and canceled Rockstar game that was announced at E3 2009 as a PS3 exclusive.

Similar stories, such as Microsoft's supposed EA takeover, and Apple's rumoured Nintendo acquisition, both turned out to be false.

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