Take-Two inventory down in wake of Zynga buy, Zelnick not bothered
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Take-Two inventory down in wake of Zynga buy, Zelnick not bothered


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Take-Two boss Strauss Zelnick appeared on CNBC to speak about his firm’s inventory following the $12.7 billion Zynga acquisition. Take-Two bought Zynga at a value of $9.86/share in a money and inventory deal. The acquisition turned Take-Two into one of many largest gaming publishers within the video games business.

“With out regard to any income synergies we count on the mixed firm to develop its prime line about 14% yearly for the subsequent three years,” Zelnick informed CNBC. “We’re constructing this firm for the long run, and that’s at all times been our method.”

Take-Two’s inventory value dropped beneath $140/share after the information went public. Zelnick, although, isn’t bothered by it.

“We are attempting to construct a enterprise over a really lengthy time frame,” mentioned Zelnick. “We’ve by no means paid that a lot consideration to intraday buying and selling marks. We’ve paid consideration to creating worth; for our gamers, for our colleagues, and most significantly for our shareholders. That’s labored out over a really lengthy time frame, and I imagine it can work out right here as nicely.”

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Take-Two’s inventory value has since climbed again above $150/share. Whereas the inventory value is recovering it nonetheless stays nicely beneath the place it entered January from, at round $180/share.

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