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Rumor: Viacom bidding for Take Two

Posted by: Chuck at 2/7/2008 12:23 PM
MCV is reporting that Viacom has launched an unsolicited bid to buy Take Two for a reported $1.5 billion.  It's an interesting move for Viacom as Take Two would be a nice addition to it's stable of game developers (Viacom owns MTV which in turn owns Harmonix and a few other developers).  Take Two has been a takeover target for the last year or so and it's hard to argue with a 30% premium on the current stock price.  It also allows Viacom to get in before the company ships Grand Theft Auto IV which could make a future acquisition a little costlier.