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Take-Two tanks after EA rejection
Share price falls
The maker of Grand Theft Auto has seen its share price plummet after EA games has announced that it will not be buying the company.
Take-Two has said that it will be an independent company for the foreseeable future. Most analysts think it will a long time before anyone will offer the more than $2 billion which EA stumped up with. Take-Two's stock plunged $5, or 23 per cent, stripping it of any gains it has had this year. You can buy a Take-Two share for $16.89 and EA offered $26 per share for Take-Two.
France's Ubisoft has been named as a potential buyer, but has not made a public offer and there are a couple of Asian companies sniffing around. However, no analyst thinks any of them can come up with the readies.
However, Take-Two is not suffering from going it alone, either. It has no debts and is one of the most successful game franchises in the industry.